BlackLine Inc. has set the price for its initial public offering at between $13 and $15, according to documents filed Monday with the Securities and Exchange Commission.
With the Woodland Hills company electing to sell 8.6 million shares, it would stand to raise a total of nearly $112 million to $129 million at that share price.
The SEC filing outlined that BlackLine plans to use the proceeds to pay off the $65 million balance of its credit facility and for general corporate purposes.
BlackLine would be listed under the ticker symbol BL on the Nasdaq Global Select Market.
BlackLine was founded in 2001 by Therese Tucker, its chief executive. The company develops software that automates the processes of closing out financial books and reconciling accounts to make sure the money coming in matches the money being spent. Its existing customers include Dow Chemical Co., Coca-Cola Co. and Air Medical Group Holdings.