Tableau charts course for $345 million stock offering
The amount exceeds what the Seattle company, which develops tools to help businesses and others with graphic representation of data, raised in in its initial public offering.
Seattle Times business reporter
Seattle-based Tableau Software, which develops digital-charting tools, said Friday it plans to sell shares of common stock to the public in a secondary offering.
The company plans to raise $345 million, but did not disclose the number of shares being sold. But with Thursday’s closing price of $89.15, the company would add roughly 3.8 million shares of Class A common stock to the approximately 30.5 million already on the market as of Feb. 24. Tableau also has 32.5 million shares of Class B common stock on the market.
Tableau sold 8.3 million shares for $31 for its IPO in May 2013, raising $254.2 million. It’s listed on the New York Stock Exchange under the ticker symbol DATA.
According to documents filed with the Securities and Exchange Commission, the company plans to use funds from the offering for sales and marketing activities, general and administrative expenses and capital expenditures. A portion may also be used for acquisitions.
Goldman, Sachs. and Morgan Stanley are leading the offering.
Coral Garnick: 206-464-2422 or firstname.lastname@example.org. On Twitter @coralgarnick