Pluralsight, which provides online training courses in programming and software development, announced terms for its IPO on Monday.
The Farmington, UT-based company plans to raise $228 million by offering 20.7 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Pluralsight would command a fully diluted market value of $1.5 billion.
Pluralsight was founded in 2004 and booked $179 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol PS. Morgan Stanley, J.P. Morgan, Barclays and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of May 14, 2018.
