Appian Up More Than 35% After IPO

5/26/17

Enterprise software company Appian (Pending:APPN) had priced 6.25 million shares at $12 for a $75M IPO. Shares are currently trading hands at more than $16.

Appian sells a development platform that makes it possible for businesses and government departments to create custom applications with a minimal amount of code. Appian had 280 clients at the end of last year including the U.S. Treasury Department, Major League Baseball, and Bacardi.

Appian has struggled with profitability, but revenue has grown from $111.2M in 2015 to $132.9M in 2016. The company reported a $12.5M net loss in 2016. The IPO money will go towards working capital, general operations, and loan payoffs.

READ FULL ARTICLE HERE

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.