Business-software company Atlassian Corp., whose customers include Twitter Inc. and NASA, raised $462 million in its initial public offering, pricing the shares above an increased range.
Atlassian sold 22 million shares for $21 apiece, according to data compiled by Bloomberg. The Sydney-based company raised the marketed range to $19 to $20 a share this week, from an initial $16.50 to $18.50. At the IPO price, the company has a market value of about $4.4 billion, compared with the $3.3 billion valuation it received in a private financing round.
The company sells project management and collaboration technology to more than 51,000 customers, including the National Aeronautics and Space Administration, which used some Atlassian products to design the Mars Rover. Unlike a number of its high-growth tech peers that also have fetched private valuations in the billions of dollars, Atlassian is both growing and profitable.
In the 12 months ended June 30, Atlassian generated revenue of $319.5 million, up 49 percent from the year-earlier period. The company posted net income of $6.8 million in the fiscal year through June.
The shares will start trading Thursday, listed on the Nasdaq Stock Market under the symbol TEAM. Goldman Sachs Group Inc. and Morgan Stanley managed the offering.