Avalara, a cloud-based sales tax and compliance solutions provider, announced terms for its IPO on Monday.
The Seattle, WA-based company plans to raise $150 million by offering 7.5 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Avalara would command a fully diluted market value of $1.4 billion and an enterprise value of $1.3 billion.
Avalara was founded in 2004 and booked $226 million in sales for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol AVLR. Goldman Sachs, J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of June 11, 2018.
