IntraLinks IPO – Cloud Security Provider Goes Public on New York Stock Exchange, Raises $143 Million
IntraLinks Holdings (NYSE:IL), a provider of cloud-based solutions that help enterprises securely manage content, exchange business information and collaborate within and among organizations, went public today (its third attempt) and started trading on the New York Stock Exchange.
Shares of the New York based software services firm dropped slightly after its initial public offering priced below expectations, raising $143 million. The company priced 11 million shares at $13 on Thursday, below the $14 to $16 range it had expected. IntraLinks expects to use the proceeds to pay down debt.
First quarter 2010 revenue for IntraLinks increased 15.3 percent to $39.9 million with a net loss narrowing 54.8 percent to $5.5 million during the same period.
IntraLinks customers include large enterprises such as Ford and Bank of America.
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