Coupa Software Inc. priced its initial public offering at $18 a share Wednesday evening, the top of an elevated price range, but the software company still saw its valuation decline from a peak of more than $1 billion. The cloud-software company, which helps companies track spending, priced 7.4 million shares at $18, bringing in $133.2 million at an initial market capitalization of roughly $866 million. Coupa had attracted $165 million in venture funding, with the last round of investment valuing the company as a so-called unicorn in June 2015. Underwriting banks have access to an additional 1.1 million shares if demand exists. Coupa is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol COUP on Thursday.
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