Instructure Announces Pricing of Initial Public Offering
Rhea-AI Summary
Instructure announced the pricing of its initial public offering (IPO) of 12,500,000 shares at $20.00 per share. The underwriters have a 30-day option to purchase an additional 1,875,000 shares. Trading under the ticker symbol 'INST' is set to commence on the NYSE on July 22, 2021, with the offering expected to close on July 26, 2021, pending customary conditions. Morgan Stanley, J.P. Morgan, Citigroup, Jefferies, and Macquarie are the bookrunning managers for this offering.
Positive
- The IPO of 12,500,000 shares priced at $20.00 could generate substantial capital for growth.
- The potential additional shares from the underwriters could provide even more funding.
Negative
- The issuance of new shares may lead to shareholder dilution.
- Market reaction to the IPO could be uncertain as it is dependent on investor demand.
News Market Reaction – INST
On the day this news was published, INST declined 57.18%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SALT LAKE CITY, July 21, 2021 /PRNewswire/ -- Instructure Holdings, Inc. (Instructure) today announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Jefferies LLC and Macquarie Capital (USA) Inc. are acting as bookrunning managers for the offering. Robert W. Baird & Co. Incorporated, BTIG LLC, Raymond James & Associates, Inc., Truist Securities, Inc., William Blair & Company, L.L.C., Academy Securities, Inc., C. L. King & Associates, Inc., Drexel Hamilton, LLC and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the offering.
The offering of these securities will be made only by means of a prospectus. When available, copies of the final prospectus relating to this offering may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10282, Attn: Prospectus Department.
A registration statement relating to these securities has been filed with, and declared effective on July 21, 2021, the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Instructure
Instructure is an education technology company dedicated to helping everyone learn together. We amplify the power of teaching and elevate the learning process, leading to improved student outcomes. Today, Instructure supports more than 30 million educators and learners at more than 6,000 organizations around the world.
For More Information:
Media Relations:
Cory Edwards
Vice President, Corporate Communications
Instructure
(801) 869-5258
cory@instructure.com
Investor Relations:
April Scee
Managing Director
ICR, Inc.
(917) 497-8992
april.scee@icrinc.com
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SOURCE Instructure