Thursday, October 27, 2016

BlackLine Software Prices IPO

Woodland Hills-based BlackLine Software, the developer of accounting and financial close software, has priced its IPO, saying late Thursday evening that it will sell 8,600,000 shares of its common stock at $17.00 per share. BlackLine will start trading Friday morning on the NASDAQ Global Select Market as BL. BlackLine priced at the high range of an already increased estimated IPO range, which was set to $16.00 to $17.00 earlier this week. The company had originally set an estimated IPO range of between $13.00 and $15.00 per share. The IPo was managed by Goldman, Sachs & Co. and J.P. Morgan, along with Pacific Crest Securities, a division of KeyBanc Capital Markets, Raymond James, William Blair and Baird. BlackLine is backed by Silver Lake Sumeru and ICONIQ, but was initially bootstrapped by its management team. The company is led by Therese Tucker. BlackLine is at least the sixth major technology IPO in Southern California in the twelve months.

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