Deals
Software Firm PowerSchool Raises $711 Million in Low-Priced IPO
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Education software provider PowerSchool Holdings Inc. raised $711 million in an initial public offering priced at the bottom of a marketed range.
The company, backed by private equity firms Vista Equity Partners and Onex Corp., sold 39.5 million shares on Tuesday for $18 each, according to a statement. PowerSchool, which had offered shares for $18 to $20, has a market value of $3.5 billion based on the outstanding stock listed in its filings with the U.S. Securities and Exchange Commission.