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
Fortune has once again named Google Inc. (GOOG, GOOGL) as the best company to work for, with Twitter Inc. (TWTR) also joining the annual list for the first time. This is for the sixth time and for the fourth consecutive time that Google has ranked No.1 in the Fortune's annual list of "100 Best Companies... Dunkin' Donuts has agreed to remove a whitening agent called titanium dioxide, commonly a source of nanomaterials, from all powdered sugar used in its donuts. The move follows pressure from advocacy group As You Sow, which put a shareholder proposal asking Dunkin' to reduce the risks of using nanomaterials in its food products. Warren Buffett's Berkshire Hathaway is reportedly planning its first ever European bond sale of 3 billion euros to take advantage of low interest rates in the region, traversing a path taken by a range of home companies in search of cheap funding options. The move comes as the European Central Bank's bond-buying stimulus program of 60 billion euros a month is imminent.
comments powered by Disqus
RELATED NEWS
Trade SPLK now with 
Follow RTT