Enterprise security platform Ping Identity sets terms for $188 million IPO
Ping Identity Holding, which provides an enterprise security platform focused on identity access management, announced terms for its IPO on Monday.
The Denver, CO-based company plans to raise $188 million by offering 12.5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Ping Identity Holding would command a fully diluted market value of $1.2 billion.
Ping Identity Holding was founded in 2001 and booked $215 million in revenue for the 12 months ended June 30, 2019. It plans to list on the NYSE under the symbol PING; it had originally planned to list on the Nasdaq. Goldman Sachs, BofA Merrill Lynch, RBC Capital Markets, Citi, Barclays, Credit Suisse, Deutsche Bank, and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2019.
The article Enterprise security platform Ping Identity sets terms for $188 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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