Domo Sets Initial IPO Offering Range
American Fork, Utah-based Domo has set the pricing range for its Initial Public Offering (IPO), saying in a filing today that it is selling 9,200,000 shares of its commmon stock at between $19.00 and $22.00 per share. The company has applied to list on the Nasdaq Global Market as DOMO. Domo's IPO is being underwritten by Morgan Stanley, Allen & Company, Credit Suisse, UBS Investment Bank, William Blair, JMP Securities, and Cowen. Domo's biggest institutional investors are Institutional Venture Partners (IVP), Benchmark Capital, BlackRock, and GGV. Domo makes business dashboarding and communications tools, giving executives a view of their entire business through a mobile app and related tools. The estimated initial IPO range is provided to help guide institutional investors on the expected pricing for companies approaching the IPO market, and typically comes a few weeks before the actual pricing of the IPO--dependent on interest of those institutional investors. That pricing occurs the day before the actual IPO debut of a company, when the public can first buy or sell that stock an exchange.
posted on Monday, June 18, 2018
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