Presidio, which provides IT infrastructure services to middle-market businesses, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $250 million by offering 16.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Presidio would command a fully diluted market value of $1.4 billion.
Presidio was founded in 2003 and booked $2.8 billion in sales for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol PSDO. J.P. Morgan, Citi, Barclays, RBC Capital Markets, Credit Suisse, Goldman Sachs, Wells Fargo Securities and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of March 6, 2017.
