The Medallia IPO is making waves early in the week as the company has set terms for its plan to go public.
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Here are seven things that investors should know:
- The San Francisco-based management enterprise software business is being valued at $2.19 billion, according to the terms of the company’s initial public offering.
- Medallia said that it was offering 13,325,000 shares in the IPO, which are slated to be priced somewhere between $16 and $18 a share if the company’s expectations are on the money, which would raise $239.9 million.
- Selling stockholders are being offered an additional 1,175,000 shares that are valued at up to $21.2 million.
- The underwriters are being led by Bank of America Merrill Lynch, Citigroup and Wells Fargo securities.
- If they exercise all options to buy the 1,585,000 additional shares, Medallia could bring ing up to $268.4 million.
- It is expected that the company’s stock will be listed on the New York Stock Exchange under the stock symbol “MDLA.”
- The business posted a net loss of $70.4 million on revenue of $261.2 million in 2018 following a loss of $82.2 million on revenue of $313.6 million in 2017.
Although Medallia is based out of San Francisco, it has offices in multiple other cultural hubs around the world, including Buenos Aires, London, Munich, New York City, Paris and Sydney. The company has been around since 2001 and its CEO is Leslie J. Stretch.
