Yext, which provides a platform that allows businesses to sync local listings across the internet, announced terms for its IPO on Tuesday.
The New York, NY-based company plans to raise $95 million by offering 10.5 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Yext would command a fully diluted market value of $905 million.
The company claims that its cloud-based platform, the Yext Knowledge Engine, gives its customers control over their digital presence, with access to Listings, Pages, Reviews and other features.
Yext was founded in 2006 and booked $124 million in sales for the 12 months ended January 31, 2017. It plans to list on the NYSE under the symbol YEXT. 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 April 10, 2017.
