Instructure Raises $70 Million in Initial Public Offering
On November 18, 2015, Palo Alto, California-based Instructure announced the closing of its initial public offering of 4.4 million shares of its common stock at an initial price to the public of $16.00 per share. The shares began trading on the New York Stock Exchange on November 13, 2015, under the symbol "INST." Wilson Sonsini Goodrich & Rosati advised the underwriters in connection with the offering.
Morgan Stanley and Goldman Sachs & Co. were lead joint book-running managers for the offering. Jefferies LLC also acted as a book-running manager. Needham & Company, LLC, Oppenheimer & Co. Inc., and Raymond James & Associates, Inc. were co-managers for the offering.
For more information, please see Instructure's press release.