SolarWinds, which provides hybrid IT infrastructure management software, announced terms for its IPO on Friday.
The Austin, TX-based company plans to raise $756 million by offering 42 million shares (60% insider) at a price range of $17 to $19. At the midpoint of the proposed range, SolarWinds would command a fully diluted market value of $5.5 billion.
SolarWinds was founded in 1999 and booked $786 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol SWI. Goldman Sachs, J.P. Morgan, Morgan Stanley, Credit Suisse, BofA Merrill Lynch, Barclays, Citi, Evercore ISI, Jefferies, Macquarie Capital, Nomura Securities and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of October 15, 2018.
