Instructure, Inc. (NYSE: INST), a software-as-a-service (SaaS) technology company, today announced the pricing of its registered underwritten public offering of 2,500,000 shares of common stock at a price to the public of $39.50 per share.
In addition, Instructure has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock. All of the shares to be sold in the offering are to be sold by Instructure. Instructure intends to use the net proceeds of the offering for general corporate purposes, including working capital, sales and marketing activities, research and development activities, general and administrative matters and capital expenditures. The offering is expected to close on February 21, 2018.
Morgan Stanley and Credit Suisse acted as book-running managers for the offering.
A shelf registration statement relating to the offering was filed with the Securities and Exchange Commission (SEC), and was automatically effective on filing on February 15, 2018. A preliminary prospectus supplement related to the offering dated February 15, 2018 was filed with the SEC and is available on the SEC’s website.