Software company AppDynamics upped the terms of its initial public offering Tuesday, increasing its price range to $12 to $14 from $10 to $12. The company still plans to sell 12 million shares. With the increased range, the company is still in danger of receiving a lower market capitalization than its latest private valuation of $1.9 billion. AppDynamics is also planning a concurrent private placement in which existing shareholders can buy up to $32.5 million shares of common stock. The stock has been approved to list on the Nasdaq Global Select Market under the symbol “APPD.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News