Trupanion, which provides medical insurance for cats and dogs, announced terms for its IPO on Monday. The Seattle, WA-based company plans to raise $100 million by offering 7.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, it would command a fully diluted market value of $429 million.
Trupanion, which was founded in 2000 and booked $92 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol TRUP. Trupanion initially filed confidentially on March 3, 2014. RBC Capital Markets, Barclays and Stifel are the joint bookrunners on the deal. It is expected to price during the week of July 14, 2014.
