Nutanix, a leading provider of hyperconverged IT infrastructure software and appliances, raised the proposed deal size for its upcoming IPO on Wednesday.
The San Jose, CA-based company now plans to raise $196 million by offering 14 million shares at a price range of $13 to $15. The company had previously filed at a range of $11 to $13. At the midpoint of the revised range, Nutanix will raise 17% more in proceeds than previously anticipated.
Nutanix was founded in 2009 And booked $445 million in sales for the 12 months ended July 31, 2016. It plans to list on the Nasdaq under the symbol NTNX. Goldman Sachs, Morgan Stanley, J.P. Morgan and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 26, 2016.
