Varonis Systems, which provides software that manages human-generated unstructured data, raised the proposed deal size for its upcoming IPO on Thursday. The New York, NY-based company now plans to raise up to $101 million by offering 4.8 million shares at a price range of $19 to $21. The company had previously filed to offer the same number of shares at a range of $17 to $19. At the high end of the revised range, it would raise 18% greater proceeds than previously anticipated.
Varonis Systems, which was founded in 2004 and booked $75 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol VRNS. The company initially filed confidentially on August 21, 2013. Morgan Stanley, Barclays, Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of February 24, 2014.
