Atlassian, which sells enterprise software tools for project management and collaboration, raised the proposed deal size for its upcoming IPO on Monday. The Sydney, Australia-based company now plans to raise $429 million by offering 22 million shares at a price range of $19 to $20. The company had previously filed to offer 20 million shares at a range of $16.50 to $18.50. At the midpoint of the revised range, Atlassian will raise 23% more than previously anticipated.
Atlassian, which was founded in 2002 and booked $353 million in sales for the 12 months ended September 30, 2015, plans to list on the Nasdaq under the symbol TEAM. Goldman Sachs, Morgan Stanley, Allen & Company, UBS Investment Bank and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of December 7, 2015.
