- The cloud-based software provider for K-12 education in North America PowerSchool Holdings, Inc, PWSC priced 39.5 million shares at $18 per share in its initial public offering.
- The estimated gross proceeds raised are ~$710.5 million.
- The underwriters have a 30-day option to purchase additional shares up to 5.9 million.
- The shares are likely to begin trading on the NYSE today.
- The company will use the offering proceeds to repay outstanding indebtedness, pay expenses incurred in connection with the offering and other related organizational transactions, and general corporate purposes.
- PowerSchool will be making a $1 million donation to philanthropic initiatives to benefit K-12 educators.
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