Tuesday, January 24, 2012

Guidewire Prices IPO

San Mateo-based Guidewire, which develops insurance underwriting software, has priced its IPO at $13.00 per share, above its initial range of $10.00 to $12.00. The firm has raised $115M via its sale of 8.85M shares, above the initial offer amount. The IPO was underwritten by Morgan, Deutsche Bank Securities, Citigroup, Stifel Nicolaus Weisel, and Pacific Crest Securities. Guidewire was venture backed by U.S. Venture Partners, Bay Partners, and Battery Ventures, and had originally filed for an IPO in September. Guidewire will debut on the NYSE as GWRE tomorrow.