Elastic, which provides open-source data search and visualization software, announced terms for its IPO on Monday.
The Mountain View, CA-based company plans to raise $193 million by offering 7 million shares at a price range of $26 to $29. At the midpoint of the proposed range, Elastic would command a fully diluted market value of $2.4 billion.
Elastic was founded in 2012 and booked $185 million in revenue for the 12 months ended July 30, 2018. It plans to list on the NYSE under the symbol ESTC. Goldman Sachs, J.P. Morgan, Barclays, RBC Capital Markets, BofA Merrill Lynch, Citi and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of October 1, 2018.
