Credit: Shutterstock photoQualtrics International, which provides software used to analyze and improve user experience, announced terms for its IPO on Monday.
The Provo, UT-based company plans to raise $400 million by offering 20.5 million shares at a price range of $18 to $21. At the midpoint of the proposed range, Qualtrics International would command a fully diluted market value of $4.8 billion and an enterprise value of $4.3 billion.
Qualtrics International was founded in 2002 and booked $372 million in revenue for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol XM. Morgan Stanley, Goldman Sachs, Barclays, RBC Capital Markets, Jefferies, Deutsche Bank and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of November 12, 2018.
The article SaaS unicorn Qualtrics International sets terms for $400 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
