Tufin Software Technologies, which provides enterprise software for managing network security policies, announced terms for its IPO on Monday.
The Ramat Gan, Israel-based company plans to raise $100 million by offering 7.7 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Tufin Software Technologies would command a fully diluted market value of $498 million.
Tufin Software Technologies was founded in 2005 and booked $85 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol TUFN. J.P. Morgan, Barclays and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of April 8, 2019.
