Apigee, which provides a cloud-based platform for businesses to design, deploy and scale APIs, raised $87 million by offering 5.1 million shares at $17, the midpoint of the $16-$18 range. With yesterday's announced insider buying from Third Point and Wellington, the free float will be 10% of diluted shares. At $17, Apigee commands a fully diluted market cap of $550 million and an enterprise value of $449 million. Apigee will list on the NASDAQ under the symbol APIC. Morgan Stanley, J.P. Morgan and Credit Suisse acted as lead managers on the deal.
