Tenable Holdings, which provides continuous network monitoring and enterprise security solutions, announced terms for its IPO on Monday.
The Columbia, MD-based company plans to raise $166 million by offering 9.2 million shares at a price range of $17 to $19. Insiders intend to purchase $1.2 million worth of shares in the offering (<1% of deal). At the midpoint of the proposed range, Tenable Holdings would command a fully diluted market value of $1.8 billion.
Tenable Holdings was founded in 2002 and booked $206 million in revenue for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol TENB. Morgan Stanley, J.P. Morgan, Allen & Co. and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of July 23, 2018.
