Anaplan sets terms for IPO to raise up to $232.5 million and be valued at over $1.8 billion
Anaplan Inc. has set terms for its initial public offering, in which the cloud-based connected planning company could raise up to $232.5 million and be valued at up to $1.83 billion. The San Francisco-based company said the IPO for 15.5 million shares is expected to price between $13 to $15 a share, and trade on the New York Stock Exchange under the ticker symbol “PLAN.” All the shares being offered are being sold by the company. Anaplan will grant the underwriters options to buy an additional 2.325 million shares. If all the options are exercised, the company could raise up to $267.4 million. The lead underwriters of the offering are Goldman Sachs, Morgan Stanley and Barclays. The company, with 1,102 employees as of July 31, recorded a loss of $46.7 million on revenue of $168.4 million for the year ended Jan. 31, 2018 compared a loss of $42.7 million on revenue of $120.5 million the year before. The company is looking to go public at a time that the Renaissance IPO ETF has gained 2.0% over the past three months and the S&P 500 has rallied 7.4%.