EverQuote, which operates an online auto insurance marketplace, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. At the midpoint of the proposed range, EverQuote would command a fully diluted market value of $471 million.
EverQuote was founded in 2008 and booked $135 million in sales for the 12 months ended March 31, 2018. It previously intended to list on the NYSE, but now plans to list on the Nasdaq under the symbol EVER. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.
