PagerDuty, which provides a SaaS platform that monitors and alerts businesses of IT issues, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $181 million by offering 9.1 million shares (6% insider) at a price range of $19 to $21. At the midpoint of the proposed range, PagerDuty would command a fully diluted market value of $1.7 billion.
PagerDuty was founded in 2009 and booked $118 million in sales for the 12 months ended January 31, 2019. It plans to list on the NYSE under the symbol PD. Morgan Stanley, J.P. Morgan, RBC Capital Markets and Allen & Company are the joint bookrunners on the deal. It is expected to price during the week of April 8, 2019.
