Monday, October 17, 2016

BlackLine Systems Sets Estimated IPO Pricing Range

Woodland Hills-based accounting software maker BlackLine Systems has moved one step closer to its IPO, saying this morning in a regulatory filing that it is expecting its IPO to price at between $13.00 and $15.00 per share. BlackLine, which was founded and is led by CEO Therese Tucker, is selling 8,600,000 shares of its common stock, and intends to list on the NASDAQ Global Select Market as BL. BlackLine is venture backed by Silver Lake Sumeru and ICONIQ. Tucker is the former CTO at SunGard Treasury Systems, and got her start as a software programmer years ago working on financial applications. BlackLine's software automates the very cumbersome financial close and reconciliation process for companies trying to close their books.

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