Paycom Software, a provider of on-demand payroll and human capital technology services, announced terms for its IPO on Monday. The Oklahoma City, OK-based company plans to raise $126 million by offering 6.6 million shares (31% insider) at a price range of $18 to $20. At the midpoint of the proposed range, it would command a fully diluted market value of $1.1 billion.
Paycom Software, which was founded in 1998 and booked $108 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol PAYC. Paycom initially filed confidentially on December 9, 2013. Barclays and J.P. Morgan are the joint bookrunners on the deal.
