Thursday, March 7, 2013

Model N Sets IPO Offering Range

Model N. the Redwood City-based developer of enterprise software for managing pricing, incentives, contracts, and rebates, has set its IPO offering range, saying that it now expects to IPO at between $12.50 and $14.50 per share. The firm has applied to list as MODN on the NYSE, and is selling 6,000,000 shares of its common stock in the offering. The company's stock is now expected to price on March 19th. Model N is venture backed by Meritech Capital Partners, Accel Partners, and Accel-KKR. The firm's IPO is being underwritten by J.P. Morgan, Deutsche Bank Securities, Stifel, Pacific Crest Securities, Piper Jaffray, and Raymond James.