New Relic, which provides an on-demand dashboard for monitoring enterprise software applications, announced terms for its IPO on Monday. The San Francisco, CA-based company plans to raise $95 million by offering 5.0 million shares at a price range of $18 to $20. At the midpoint of the proposed range, New Relic would command a fully diluted market value of $1.1 billion.
New Relic, which was founded in 2007 and booked $85 million in sales for the 12 months ended September 30, 2014, plans to list on the NYSE under the symbol NEWR. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of December 8, 2014.
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