BlackLine Files for IPO

Accounting software developer BlackLine has filed for an initial public offering that will raise up to $100 million. The Woodland Hills company made a filing with the Securities & Exchange Commission on Sept. 30 outlining its 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. No date was listed in the filing for when the shares would start trading. 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. The last company to go public in the San Fernando Valley was Sylmar-based Second Sight Medical Products Inc. in November 2014.