Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Splunk Raises IPO Range - Update

RELATED NEWS
Trade SPLK now with 

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.

Register
To receive FREE breaking news email alerts for Splunk and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month. Sen. Lindsey Graham, R-S.C., is seen as a long shot for the Republican presidential nomination in 2016, and his chances may have gotten worse after he was recorded joking about the prospects for "white men" if he were elected president.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.