logo
Share SHARE
FONT-SIZE Plus   Neg

Splunk Raises IPO Range - Update

Technology firm Splunk Inc. has raised its price range for initial public offering to between $11.00 and $13.00 per share from the prior range of $8.00 and $10.00 per share.

Splunk, which collects and indexes data, is offering 12.51 million shares of common stock and the selling stockholders are offering 992,722 shares.

Splunk has granted the underwriters the right to buy up to an extra 2.03 million shares of common stock to cover over-allotments.

The company now estimates to raise $135.6 million from the offering at an assumed initial public offering price of $12.00 per share. If the underwriters' over-allotment option is exercised in full, the amount raised would be about $158.2 million.

The company had previously planned to raise $100.7 million at the mid-point of $9.00 per share.

Splunk plans to use proceeds from the offering for general corporate purposes, including working capital, sales and marketing activities, product development, general and administrative matters and capital expenditures.

Splunk has applied to list its stock on the NASDAQ Global Select Market under the symbol "SPLK."

For the fiscal year ended January 31, Splunk's revenue surged to $120.96 million from $66.25 million, but net loss widened to $10.99 million from $3.81 million.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., UBS Securities LLC, Pacific Crest Securities LLC and Cowen and Company, LLC are the underwriters for the offering.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT