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Software Platform ServiceTitan Boosts IPO Price Estimate
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Main points
- ServiceTitan raised the price of its planned initial public offering to $65 to $67 per share, up from the $52 to $57 per share announced just last week.
- The company, which provides a cloud-based software platform for trading businesses, plans to sell 8.8 million shares in the IPO, which is expected to take place tomorrow.
- ServiceTitan reported losses for the year ended July 31 and for the quarter ended October 31.
Market excitement is clearly building Initial Public Offering (IPO) Developed by ServiceTitan, a cloud-based software platform for trading businesses.
In a filing with regulators, the company updated its expected IPO selling price to between $65 and $67 per share. Just last week, ServiceTitan expected prices to be between $52 and $57 per share.
The company plans to sell 8.8 million Class A shares and will grant underwriters an option to purchase an additional 1.32 million shares at the IPO price.
ServiceTitan reports $183 million loss for year ended July 31
ServiceTitan reported a net loss of $183 million in the 12 months ended July 31 on revenue of $685 million.
The company was founded in 2012 by Ara Mahdessian and Vahe Kuzoyan, the sons of immigrant trading business owners.
The IPO is expected to take place tomorrow, market observation reported. ServiceTitan has applied for Nasdaq The stock code is “TTAN”.
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