Tenable Holdings, which provides analytics-based vulnerability management software to enterprises, raised the proposed deal size for its upcoming IPO on Tuesday.
The Columbia, MD-based company now plans to raise up to $240 million by offering 10.9 million shares at a price range of $20 to $22. Insiders still intend to purchase $1 million worth of shares in the offering (<1% of deal). The company had previously filed to offer 9.2 million shares at a range of $17 to $19. At the high end of the revised range, Tenable Holdings will raise 45% more in proceeds than previously anticipated.
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 & Company and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of July 23, 2018.
