Fastly, which provides an optimized content delivery network to increase website data speeds, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $169 million by offering 11.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Fastly would command a fully diluted market value of $1.5 billion.
Fastly was founded in 2011 and booked $158 million in sales for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol FSLY. BofA Merrill Lynch, Citi and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of May 13, 2019.
