WageWorks, a on-demand provider of employee spending account benefits programs, announced terms for its IPO on Thursday. The San Mateo, CA-based company plans to raise $72 million by offering 6.5 million shares at a price range of $10 to $12. At the midpoint of the proposed range, WageWorks would command a market value of $330 million. WageWorks, which was founded in 2000 and booked $136 million in sales for the 12 months ended 12/31/2011, plans to list on the NYSE under the symbol WAGE. William Blair and Stifel are the joint bookrunners on the deal.
