Morgan Stanley, Goldman Sachs, Jefferies, Needham, Oppenheimer assist
By Devika Patel
Knoxville, Tenn., Nov. 13 – Instructure, Inc. said on Thursday that it priced its $70.4 million initial public offering of stock with a $10.56 million greenshoe. The deal was announced Oct. 9.
The company will sell 4.4 million common shares at $16.00 per share.
Morgan Stanley and Goldman Sachs & Co. are the lead bookrunning managers. Jefferies LLC is also a bookrunner.
Settlement is expected on Nov. 13.
Proceeds will be used for general corporate purposes, including working capital, sales and marketing activities, research and development activities, general and administrative matters and capital expenditures.
The software company is based in Salt Lake City. The company intends to list its common stock on the New York Stock Exchange under the symbol “INST.”
| Issuer: | Instructure, Inc.
|
| Issue: | Common stock
|
| Amount: | $70.4 million
|
| Greenshoe: | $10.56 million, or 660,000 shares
|
| Shares: | 4.4 million
|
| Price: | $16.00
|
| Warrants: | No
|
| Bookrunners: | Morgan Stanley and Goldman Sachs & Co. (leads), Jefferies LLC
|
| Co-managers: | Needham & Co., LLC, Oppenheimer & Co. Inc. and Raymond James & Associates, Inc.
|
| Announcement date: | Oct. 9
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 13
|
| Stock exchange: | NYSE: INST
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
