Edtech Firm Instructure Eyes US$250 Million IPO
Education technology company Instructure Holdings began trading on the New York Stock Exchange today under the symbol “INST”. The firm’s initial public offering is looking to raise US$250.0 million and is expected to close on July 26, 2021.
The offering consists of 12,500,000 common shares at US$20.00 per share. The company also granted the underwriters a 30-day over-allotment option to purchase additional 1,875,000 common shares at the same IPO price.
Morgan Stanley & Co., J.P. Morgan Securities, Citigroup Global Markets, Jefferies, and Macquarie Capital (USA) are all acting as joint bookrunners for the said offering.
Instructure was publicly listed before on the New York-based exchange before private equity firm Thoma Bravo took it private in a US$2.0 billion acquisition deal in December 2019. The Utah-based company is known for developing the learning management system Canvas.
Information for this briefing was found via Sedar and Instructure. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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thank you for your information,what’s next?