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The sky is the limit: Okta increases range ahead of $176 million IPO

Okta, which provides on-demand identity and access management for enterprises, raised the proposed deal size for its upcoming IPO on Wednesday.

The San Francisco, CA-based company now plans to raise $176 million by offering 11 million shares at a price range of $15 to $17. The company had previously filed to offer 11 million shares at a range of $13 to $15. At the midpoint of the revised range, Okta will raise 14% more in proceeds than previously anticipated.

Okta was founded in 2009 And booked $160 million in sales for the 12 months ended January 31, 2017. It plans to list on the Nasdaq under the symbol OKTA. Goldman Sachs, J.P. Morgan and Allen & Company are the joint bookrunners on the deal. It is expected to price during the week of April 3, 2017.

The article The sky is the limit: Okta increases range ahead of $176 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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