PowerSchool Raises $710.5M Via IPO At $18 Per Share, Trading Begins Today

July 28, 2021 7:12 AM | 1 min read | Make a Comment

The cloud-based software provider for K-12 education in North America PowerSchool Holdings, Inc, PWSC priced 39.5 million shares at $18 per share in its initial public offering.
The estimated gross proceeds raised are ~$710.5 million.
The underwriters have a 30-day option to purchase additional shares up to 5.9 million.
The shares are likely to begin trading on the NYSE today.
The company will use the offering proceeds to repay outstanding indebtedness, pay expenses incurred in connection with the offering and other related organizational transactions, and general corporate purposes.
PowerSchool will be making a $1 million donation to philanthropic initiatives to benefit K-12 educators.

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