Yext Sets Terms For IPO Pricing To Raise Up To $105 Million

Yext disclosed Tuesday that it expects its initial public offering of 10.5 million shares to price between $8 and $10 a share. The company would raise up to $105 million before fees. The location-synching company granted the underwriters of the IPO options to buy up to and additional 1.585 million shares to cover overallotments. Yext has applied to have its shares listed on the NYSE and to trade under the symbol "YEXT." Morgan Stanley, J.P. Morgan and RBC Capital Markets are the lead underwriters of the IPO. The company reported revenue for the fiscal year ended Jan. 31, 2017 of $124.3 million, up from $89.7 million the previous year, while reporting net losses that widened to $43.1 million from $26.6 million.

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