Black Knight Financial Services, a spinoff of Fidelity National Financial's mortgage data and origination automation solutions, announced terms for its IPO on Monday.
The Jacksonville, FL-based company plans to raise $400 million by offering 17 million shares at a price range of $22 to $25. At the midpoint of the proposed range, it would command a fully diluted market value of $3.5 billion.
Black Knight Financial Services, which was founded in 2007 and booked $881 million in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol BKFS. J.P. Morgan, BofA Merrill Lynch, Wells Fargo Securities, Goldman Sachs, Citi, Credit Suisse, Deutsche Bank and Suntrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of May 18, 2015.
