Atlassian increases proposed IPO deal size

Atlassian, which sells enterprise software tools for project management and collaboration, raised the proposed deal size for its upcoming IPO on Monday. The Sydney, Australia-based company now plans to raise $429 million by offering 22 million shares at a price range of $19 to $20. The company had previously filed to offer 20 million shares at a range of $16.50 to $18.50. At the midpoint of the revised range, Atlassian will raise 23% more than previously anticipated.
Atlassian, which was founded in 2002 and booked $353 million in sales for the 12 months ended September 30, 2015, plans to list on the Nasdaq under the symbol TEAM. Goldman Sachs, Morgan Stanley, Allen & Company, UBS Investment Bank and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of December 7, 2015.

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