NEW YORK (Reuters) – Software maker IntraLinks Holdings Inc (IL.N) priced 11 million shares below the expected range on Thursday, according to an underwriter.
The company sold 11 million shares for $13 each, raising about $143 million. It had planned to sell 11 million shares for $14 to $16 each.
IntraLinks was founded to sell web-based collaboration tools to debt capital markets executives but quickly expanded to sell software for M&A transactions. It now also sells software to pharmaceutical, energy, legal and other sectors but is not profitable.
This is the company’s third attempt at going public.
Revenue grew 15.3 percent to $39.9 million in the three months ended March 31. The company’s net loss narrowed 54.8 percent to $5.5 million in the same period.
Underwriters were led by Morgan Stanley, Deutsche Bank Securities and Credit Suisse. The shares are expected to begin trading on the New York Stock Exchange on Friday under the symbol “IL.” (Reporting by Clare Baldwin, additional reporting by Jonathan Stempel; Editing by Bernard Orr)