Brightspace Owner D2L Aims for Valuation Near $1 Billion in IPO
- Deal would value tech company as high as C$1.13 billion
- CEO John Baker would have 91% of company’s voting power
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D2L Inc., the operator of the Brightspace online-learning platform, is seeking to raise about $160 million in an initial public offering that values the company at as much as C$1.13 billion ($914 million).
The Canadian company is planning to sell 9.52 million to 10.5 million shares, priced at $19 to $21 apiece, according to a filing on Monday. The underwriters will have an option to sell an additional 1.43 million to 1.58 million shares within 30 days. D2L plans to list on the Toronto Stock Exchange under the symbol DTOL.