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

  • 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.
Posted In: NewsIPOsTechBriefs