Anaplan, a California-based tech firm that provides cloud-based business planning software and services, filed for an initial public offering with the U.S. Securities and Exchange Commission (SEC) last month.
According to its updated prospectus, the company plans to list its shares under the “PLAN” ticker symbol on the New York Stock Exchange (NYSE). Shares of the company are expected to begin trading on October 11, 2018.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and Barclays Capital Inc. are the lead joint book-running managers for the deal. MP Securities LLC, KeyBanc Capital Markets Inc., Piper Jaffray & Co., Evercore Group L.L.C., Canaccord Genuity LLC, SunTrust Robinson Humphrey, Inc and Needham & Company, LLC are the co-managers.
The company plans to sell a total of $15.5 million shares of its common stock at a price range of $13 to $15. Underwriters will also be granted an option to purchase additional 2.325 million shares at the price of the offering.
Anaplan is likely to command raise about $217 million, excluding the sale of customary underwriter options at a price of $14 per share. In addition, its market cap would be approximately $1.7 billion.
The firm offers a cloud-based connected planning platform to its clients that include HP, VMware, and Coca-Cola. Anaplan is yet to report a profit, despite being around for more than a decade.
The company posted revenues of $109 million in the first half of 2018, and a net loss of $47 million, according to its paperwork with the SEC. In fiscal 2017, it recorded a net loss of $48 million on revenues of $168 million. It had about $161.9 million in total liabilities and $87.0 million in cash, as of July 31, 2018.
Anaplan intends to use the proceeds of the IPO for working capital and other general corporate purposes, including funding our operating needs. However, the company says it might also use a portion of the proceeds to acquire or invest in complementary products, technologies, or businesses.
Investors in the company include Salesforce Ventures, Meritech Capital Partners, Top Tier Capital Partners, Shasta Ventures, Premji Invest, Granite Ventures, and DFJ Growth.
Its competitors include IBM, Adaptive Insights Inc, SAP AG, Microsoft Corporation, Host Analytics, Inc., Appian Corporation, Workday, Inc., as well as Oracle Corporation.
Anaplan is under the leadership of CEO Frank Calderoni who joined the company last year.
Anaplan Company Profile
Anaplan, Inc. provides a cloud-based connected planning platform. The platform unites traditionally distinct or disconnected database structures, including relational, columnar, and online analytical processing with in-memory data storage and calculation that is used in various lines of business, such as finance, sales, supply chain, marketing, human resources, and operations.
The company delivers its application over the Internet as a subscription service using a software-as-a-service model.
It operates in the United States, the United Kingdom, France, Belgium, Sweden, the Netherlands, Russia, Austria, Switzerland, Germany, Australia, Singapore, Japan, and India. Anaplan, Inc. was founded in 2008 and is headquartered in San Francisco, California. – Bloomberg
