Apptio, Inc. (NASDAQ: APTI), a Bellevue, WA-based provider of cloud-based Technology Business Management (TBM) software, announced the pricing of its initial public offering of 6,000,000 shares of Class A common stock at a price to the public of $16.00 per share.
In addition, the company – backed by Andreessen Horowitz, Greylock Partners, Janus Capital, Madrona Venture Group, Shasta Ventures, T. Rowe Price Associates, and The Hillman Company – has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Class A common stock at the initial public offering price.
Apptio’s Class A common stock is expected to begin trading on the NASDAQ Global Market under the symbol “APTI” on September 23, 2016.
The offering is expected to close on September 28, 2016, subject to customary closing conditions.
Goldman, Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint lead bookrunners for the offering, while Barclays Capital Inc., Jefferies LLC, RBC Capital Markets, LLC and Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., are acting as bookrunners.