Credit: Shutterstock photoSwitch, which operates data centers and provides data management systems, announced terms for its IPO on Monday.
The Las Vegas, NV-based company plans to raise $469 million by offering 31.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Switch would command a fully diluted market value of $3.7 billion.
Switch was founded in 2000 and booked $345 million in sales for the 12 months ended June 30, 2017. It plans to list on the NYSE under the symbol SWCH. Goldman Sachs, J.P. Morgan, BMO Capital Markets, Wells Fargo Securities, Citi, Credit Suisse and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of October 2, 2017.
The article Time to Switch? Data center operator Switch sets terms for $469 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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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.
