Credit: Shutterstock photoSplunk, which provides software for large scale data collection and analysis, increased the price range for its upcoming IPO on Monday. The San Francisco, CA-based company now plans to raise $162 million by offering 13.5 million shares (7% insider) at a price range of $11 to $13 (up from $8 to $10). At the midpoint of the revised range, the proceeds raised would be 33% greater than previously anticipated.
Splunk, which was founded in 2003 and booked $121 million in sales for the 12 months ended 1/31/2012, plans to list on the NASDAQ under the symbol SPLK. Morgan Stanley, Credit Suisse, J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal, which is expected to price this week.
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.
