Convio, which provides on-demand software solutions to 1,300 nonprofit organizations, announced terms for its IPO on Thursday, making it the sixth company to file terms so far this month. The Austin, TX-based company plans to raise $56 million by offering 5.1 million shares at a price range of $10-$12; at the mid-point of the proposed range, Convio will command a market value of $179 million. Convio, which was founded in 1999, booked $63 million in sales last year, up 11% from $57 million in 2008. The software provider had previously filed for an IPO in August 2007 before withdrawing the deal in August of the following year, citing unfavorable market conditions. Convio plans to list on the NASDAQ under the symbol CNVO with Thomas Weisel Partners and Piper Jaffray acting as lead underwriters on the deal. Convio's pricing date has been set for the week of April 26th, making it one of ten upcoming deals on the IPO calendar for the month of April.
