DocuSign, which provides a cloud-based electronic signature platform, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $543 million by offering 21.7 million shares (26% insider) at a price range of $24 to $26. At the midpoint of the proposed range, DocuSign would command a fully diluted market value of $4.7 billion.
DocuSign was founded in 2003 and booked $519 million in sales for the 12 months ended January 31, 2018. It plans to list on the Nasdaq under the symbol DOCU. Morgan Stanley, J.P. Morgan, Citi, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of April 23, 2018.
