SPS Commerce, which offers supply chain management solutions through a web-based platform, announced terms for its IPO on Tuesday. The Minneapolis, MN-based company provides integrations that enable supplier customers to "shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements," according to the S-1. SPS Commerce plans to raise $40 million by offering 3.3 million shares at a price range of $11-$13; at the mid-point of the proposed range, it will command a market value of $131 million. The company, which was founded in 1987 as St. Paul Software, booked 43.2 million in Adjusted EBITDA on $38 million in sales last year. It plans to list on the NASDAQ under the symbol SPSC. Thomas Weisel is the lead underwriter on the deal, for which timing was not disclosed.
