Thoma Bravo-Engineered Financial Operation of Instructure received good reception

IBL News | new York

Instructure Holdings Inc., controlled by Thoma Bravo (NYSE: INST), returned to the secondary market yesterday after the company that owns Canvas LMS priced its initial public offering of 12.5 million shares at $ 20. piece, which means the company estimates it will raise $ 250 million, primarily intended to reduce its long-term debt by $ 778 million.

Company executives rang the opening bell at NYSE today, as seen in the images and video below.

The registration statement was filed with the SEC on July 21, 2021. The offering is expected to close on July 26, 2021.

The stock closed at $ 20.69, after gaining 4.90% on its first day of trading. The market capitalization was 2.95 billion.

It was a successful start for Thoma Bravo, the investment firm that privatized Instructure last year in a deal valued at $ 2 billion. The Salt Lake City, Utah-based startup first went public four years ago.

The finance company will hold 88% of the shares after the offer, or 87% if the over-allotment option is exercised in full. Instructure has granted the underwriters a 30-day option to purchase up to 1.8 million additional shares at the IPO price.

In the first three months of 2021, Instructure achieved revenue of $ 94.0 million and a net loss of $ 33.1 million, according to the filing.

IBL News, July 14, 2021: Instructure / Canvas LMS Details IPO: $ 2.9 Billion Expected


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