WideOpenWest, the sixth largest cable operator in the United States, announced terms for its IPO on Monday.
The Englewood, CO-based company plans to raise $400 million by offering 19 million shares at a price range of $20 to $22. At the midpoint of the proposed range, WideOpenWest would command a market value of $1.8 billion.
WideOpenWest was founded in 2001 and booked $1.2 billion in sales for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol WOW. UBS Investment Bank, Credit Suisse, RBC Capital Markets, SunTrust Robinson Humphrey, Evercore ISI and Macquarie Capital are the joint bookrunners on the deal. It is expected to price during the week of May 22, 2017.
