AppDynamics, which provides application performance management software for business-critical apps, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for a deal we estimate could raise up to $150 million.
The San Francisco, CA-based company was founded in 2008 and recorded $206 million in sales for the 12 months ended October 31, 2016. It plans to list on the Nasdaq under the symbol APPD. Morgan Stanley, Goldman Sachs, J.P. Morgan, Barclays, UBS Investment Bank, Wells Fargo Securities, William Blair and JMP Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
