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
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT