BlackLine Plans IPO for Oct. 28

BlackLine Inc. has scheduled the launch its initial public offering on Oct. 28, according to the Nasdaq IPO calendar. The Woodland Hills software developer will offer its shares at between $13 and $15. It would stand to raise between $112 million to $129 million at that price for the 8.6 million shares it plans to sell. The company’s Sept. 30 filing with the Securities and Exchange Commission 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.