Q2 Holdings, which provides cloud-based virtual banking software for regional institutions, announced terms for its IPO on Thursday. The Austin, TX-based company plans to raise $93 million by offering 7.8 million shares (19% insider) at a price range of $11 to $13. At the midpoint of the proposed range, it would command a fully diluted market value of $433 million. Q2 Holdings, which was founded in 2005 and booked $57 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol QTWO. The company initially filed confidentially on December 20, 2013. J.P. Morgan and Stifel are the joint bookrunners on the deal.
