ServiceTitan Sets IPO Price at $71 per Share for 8.8 Million Shares
ServiceTitan, Inc. (TTAN), a software platform managing the work of craftspeople, announced today the pricing of its initial public offering (IPO) of 8,800,000 shares of Class A common stock at a price of $71.00 per share. Additionally, ServiceTitan has granted underwriters a 30-day option to purchase up to 1,320,000 additional shares of Class A common stock at the IPO price (after deducting underwriting discounts and commissions). The shares are expected to begin trading on the Nasdaq Global Select Market under the symbol "TTAN" on December 12, 2024. The offering is expected to be completed on December 13, 2024, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Morgan Stanley are acting as the lead underwriters for the offering. Wells Fargo Securities and Citigroup are joining as additional underwriters. KeyBanc Capital Markets, Truist Securities, Canaccord Genuity, Needham & Company, Piper Sandler, Stifel, and William Blair are serving as passive underwriters. First Citizens Capital Securities, Academy Securities, and Loop Capital Markets are acting as co-managers.
A registration statement relating to these securities has been filed with and became effective upon approval by the Securities and Exchange Commission. This offering is being made only by means of a prospectus. Copies of the prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, phone: (866) 471-2526 or email: prospectus-ny@ny.email.gs.com; and Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: prospectus@morganstanley.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities. Additionally, the sale, offer, or solicitation of an offer to buy these securities prior to registration or qualification under the securities laws of any state or jurisdiction where such offer, sale, or solicitation would be illegal is prohibited.
About ServiceTitan ServiceTitan is a software platform for managing craft businesses. The company's cloud-based, end-to-end solution provides contractors with the tools they need to run and grow their businesses, manage their back offices, and deliver an exceptional customer experience. By bringing an integrated SaaS platform to an industry historically underserved by technology, ServiceTitan provides craftspeople with the technology they need to keep the world running.
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