Appian, which provides software for app development and business process management, announced terms for its IPO on Friday.
The Reston, VA-based company plans to raise $75 million by offering 6.25 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Appian would command a fully diluted market value of $755 million.
Appian was founded in 1999 and booked $135 million in sales for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol APPN. Morgan Stanley, Goldman Sachs and Barclays are the joint bookrunners on the deal. It is expected to price during the week of May 22, 2017.
