Talend Raises $94.5 Million Pricing IPO Above Marketed Rangeby and
Talend SA, the data-technology company backed by Balderton Capital and an affiliate of Silver Lake Management, raised $94.5 million in its initial public offering, pricing the shares above the marketed range.
Talend, based in France but with its primary business in Redwood City, California, sold 5.25 million American depository shares for $18 apiece, according to a statement Thursday, after offering them for $15 to $17 each.
Shares of the company, whose platform helps clients compile and analyze data from different sources, will start trading Friday, listed on the Nasdaq Global Market under the symbol TLND.
Talend plans to use proceeds from the offering to pay down debt and for general corporate purposes, including sales and marketing activities and investing in research and development, according to its prospectus.
In 2015, Talend posted a net loss of $22 million on revenue of $76 million, compared with a loss of $22.5 million on revenue of $62.6 million the previous year. In the first quarter of 2016, Talend posted a net loss of $5.3 million on revenue of $22.8 million.
Sumeru Equity Partners, through Toro Acquisition, will own about 21 percent of Talend’s shares after the offering, filings show. Sumeru was formed within Silver Lake in 2007 and later spun off, according to its website. Balderton will own about 16 percent, filings show.
Goldman Sachs Group Inc., JPMorgan Chase & Co., Barclays Plc and Citigroup Inc. managed the offering.