Tintri, which sells virtualized storage appliances to enterprises, announced terms for its IPO on Friday.
The Mountain View, CA-based company plans to raise $100 million by offering 8.7 million shares at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Tintri would command a fully diluted market value of $389 million.
Tintri was founded in 2008 and booked $133 million in sales for the 12 months ended April 30, 2017. It plans to list on the Nasdaq under the symbol TNTR. Morgan Stanley, BofA Merrill Lynch and Pacific Crest Securities are the joint bookrunners on the deal. It is expected to price during the week of June 26, 2017.
