Technical online education provider Pluralsight is marching towards going public. The Utah-based company intends to price its equity between $10 and $12 per share, according to its most recent SEC filing.
At $12 per share, counting only shares outstanding post-IPO, the firm would be worth $1.56 billion. If you add in the 3,105,000 shares available to underwriters in addition to its normal IPO bloc, the company is worth $1.60 billion.
(For more on the company’s financials, head here.)
If you add together every single share possible (restricted stock units, warrants, shares held for future equity compensation, and shares available through its employee share purchase setup) at $12 per share, the firm would be worth $2.03 billion. That number isn’t what I’d use to measure the value of the firm, mind.
The firm is shooting for a valuation in the $1.5 to $1.6 billion range, depending on how you calculate. Is that number good?
The answer is yes, or mostly yes, at least.
According to CNBC, the company’s last valuation was somewhat north of $1 billion. That was back in 2016. And, at the time of its 2014 mega-round, the firm was, per the same CNBC report, worth “close to $1 billion.”
From either valuation point, the company is going public at a higher valuation than it last raised at, something that’s good for its investors and employees alike.
More when it prices.
iStockPhoto / Pobytov
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