Markets

Tech unicorn AppDynamics increases proposed IPO deal size

AppDynamics, which provides application performance management software for large enterprises, raised the proposed deal size for its upcoming IPO on Tuesday.

The San Francisco, CA-based company now plans to raise $156 million by offering 12 million shares at a price range of $12 to $14. The company had previously filed to offer 12 million shares at a range of $10 to $12. At the high end of the revised range, AppDynamics will raise 27% more in proceeds than the previously anticipated midpoint and command a fully diluted market value of $2.2 billion.

AppDynamics was founded in 2008 and booked $206 million in sales for the 12 months ended October 31, 2016. It plans to list on the Nasdaq under the symbol APPD. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of January 23, 2017.

The article Tech unicorn AppDynamics increases proposed IPO deal size 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.

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More