Pluralsight, which provides online training courses in programming and software development, raised the proposed range for its upcoming IPO on Tuesday.
The Farmington, UT-based company now plans to raise as much as $290 million by offering 20.7 million shares at a price range of $12 to $14, up from the initial range of $10 to $12. At the high end of the revised range, Pluralsight will raise 27% more in proceeds than previously anticipated and command a fully-diluted market value of $1.9 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.
