E2open Inc., which specializes in cloud-based, on-demand supply-chain management software, said it expects to raise roughly $52.9 million in net proceeds from its initial public offering, according to regulatory documents filed by the company.
The filing with the Securities and Exchange Commission shows the company expecting its 4.7 million-share IPO to garner between $15 and $17 per share. This would, at its midpoint, give the company a valuation of roughly $437 million. The company said it will use proceeds for working capital, sales, marketing, and general expenditures related to its supply chain management platform.
E2open has applied to list shares on the Nasdaq, under the ticker symbol "EOPN." The company reports 248 customers and 32,000 unique registered trading partners. It employs 351 people and its fiscal year 2012 revenues reached $59.7 million.
E2open, based in Foster City, Calif., opened its doors for business in 2000. - Geoff Whiting