By Corrie Driebusch
Online-storage company Box Inc. priced its initial public
offering at $14 apiece late Thursday, above expectations, according
to a person familiar with the offering.
The deal raised $175 million by selling 12.5 million shares,
according to the person. The company had been looking to sell 12.5
million shares in the range of $11 to $13 a share, according to a
regulatory filing.
Box's IPO comes roughly 10 months after it publicly filed for an
IPO. Those plans were postponed amid a drop in demand for
technology stocks, and in the ensuing months it turned to the
private market to raise additional funding.
Box plans to start trading Friday on the New York Stock Exchange
under the ticker "BOX".
The deal is being led by Morgan Stanley, Credit Suisse and J.P.
Morgan.
Write to Corrie Driebusch at corrie.driebusch@wsj.com
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