Apigee, which provides a cloud-based platform for businesses to design, deploy and scale APIs, announced terms for its IPO on Monday.
The San Jose, CA-based company plans to raise $87 million by offering 5.1 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Apigee would command a fully diluted market value of $550 million.
Apigee, which was founded in 2004 and booked $62 million in sales for the 12 months ended January 31, 2015, plans to list on the NASDAQ under the symbol APIC. Morgan Stanley, J.P. Morgan and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of April 20, 2015.
