Roku, which sells TV set-top boxes used to stream subscription and ad-supported content, announced terms for its IPO on Monday.
The Los Gatos, CA-based company plans to raise $204 million by offering 15.7 million shares (43% insider) at a price range of $12 to $14. At the midpoint of the proposed range, Roku would command a fully diluted market value of $1.5 billion.
Roku was founded in 2002 and booked $436 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol ROKU. Morgan Stanley, Citi, Allen & Company and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 25, 2017.
