Instructure, Inc. raised $81.0 million in its initial public offering at $16.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 660,000 shares of common stock at the initial public offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Instructure, Inc. for general corporate purposes, including working capital, sales and marketing activities, research and development activities, general and administrative matters and capital expenditures. They may also use a portion of the net proceeds from this offering for acquisitions of, or investments in, technologies, solutions or businesses that complement the business.
Instructure, Inc. (NYSE: INST) is a leading software-as-a-service (SaaS) technology company that makes software that makes people smarter. With a vision to help maximize the potential of people through technology, Instructure created Canvas and Bridge to enable organizations everywhere to easily develop, deliver and manage engaging face-to-face and online learning experiences. To date, Instructure has connected millions of teachers and learners at more than 1,800 educational institutions and corporations throughout the world.