Allvue Systems Holdings Inc. has set terms of its initial public offering, in which the Florida-based technology provider for investment managers looks to raise up to $290.7 million. The company is offering 15.3 million Class A shares in the IPO, which is expected to price between $17 and $19 a share.
The company expects to have 50.13 million Class A shares and 35.09 million Class V shares outstanding after the IPO, which could value the company at up to $1.62 billion at the IPO pricing.
The stock is expected to list on the NYSE under the ticker symbol "ALVU." Goldman Sachs, Barclays and Credit Suisse are the lead underwriters. The company recorded a net loss of $20.8 million on revenue of $71.3 million for the six months ended June 30, after a loss of $14.5 million on revenue of $62.5 million in the same period a year ago.
The company is looking to go public at a time that the Renaissance IPO ETF $(IPO.UK)$ has gained 5.1% over the past three months, while the S&P 500 has tacked on 4.7%.