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BlackLine Succcessfully IPOs

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Editor Coda
Jul 26, 2022

BlackLine, Inc., a provider of financial controls and automation solutions that enable Continuous Accounting, announced on October 27th the pricing of its initial public offering of 8,600,000 shares of its common stock at a price to the public of $17.00 per share.

The shares began trading on the NASDAQ Global Select Market on October 28,2016 under the ticker symbol “BL”. BlackLine has raised $146 million from the IPO, an increase from the estimated $100 million.

Goldman, Sachs & Co. and J.P. Morgan are acting as joint book-running managers and Pacific Crest Securities, a division of KeyBanc Capital Markets, Raymond James, William Blair and Baird are acting as co-managers for the offering.

The LA Times report that "funds from BlackLine’s IPO will go toward paying off debt and hiring, said Tucker, who will continue to own about 13% of the firm. As tempting as it might be, employees and investors didn’t cash out as part of the sale.

'We have a bright future in front of us, and we want to see that come to pass,' Tucker said."

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