Box, which provides enterprises with a cloud-based storage and collaboration platform, announced terms for its IPO on Friday. The Los Altos, CA-based company plans to raise $150 million by offering 12.5 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Box would command a fully diluted market value of $1.6 billion. The company had been on file for an IPO since March 2014.
Box, which was founded in 2005 and booked $192.6 million in sales for the 12 months ended October 31, 2014, plans to list on the NYSE under the symbol BOX. Morgan Stanley, Credit Suisse and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of January 19, 2015.
The article Out of the Box IPO: Cloud-based data management provider sets terms for $150 million offering originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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