MongoDB, which provides enterprises with an open source NoSQL database platform, raised the proposed deal size for its upcoming IPO on Tuesday.
The New York, NY-based company now plans to raise $168 million by offering 8 million shares at a price range of $20 to $22. The company had previously filed to offer 8 million shares at a range of $18 to $20. At the midpoint of the revised range, MongoDB will raise 11% more in proceeds than previously anticipated.
MongoDB was founded in 2007 and booked $124 million in sales for the 12 months ended July 31, 2017. It plans to list on the Nasdaq under the symbol MDB. Morgan Stanley, Goldman Sachs, Barclays and Allen & Company are the joint bookrunners on the deal. It is expected to price during the week of October 16, 2017.
