Splunk Sees IPO Priced at $8-$10 Per Share

Features Reuters

Splunk Inc, which makes software that collects and indexes data, said it expects its initial public offering of 13.5 million shares to be priced between $8 and $10 apiece.

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In a filing with the U.S. Securities and Exchange Commission, the company said it plans to sell about 12.5 million shares, with its selling stockholders offering the rest.

At the top of its expected price range, the company would have a market value of about $925.3 million.

Splunk's revenue has nearly doubled each year for the last five years, but the company has not posted a full-year profit in the period.

The company, which expects to list its stock on the Nasdaq under the symbol 'SPLK', is backed by private equity firms Sevin Rosen, August Capital and Ignition Partners.

As of January 31, the company had over 3700 customers, including Autodesk , Bank of America , Comcast , Harvard University, Viacom and Zynga .

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Morgan Stanley, Credit Suisse, J.P.Morgan, BofA Merrill Lynch are lead underwriters to the offering.

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