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
Federal Aviation Administration said several pilots complained about pointing of strong green laser beams at planes flying over Long Island. The location was around Farmingdale, during 9.30 pm and 10 pm. Searches are on to locate the exact source of the laser beam. The Federal official suspects that the beam came from a hand-held device. Discount retailer Big Lots, Inc. Friday reported an increase in income from continuing operations for the first quarter, from last year. The company also registered a surge in net income particularly as it had carried a loss from discontinued operations last year. Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items.
comments powered by Disqus
RELATED NEWS
Trade SPLK now with 
Follow RTT