Box has today set a price range for its IPO. The cloud-storage and enterprise collaboration software provider previously postponed its IPO in favor of taking more private funding.
Box is seeking as much as $163 million, offering 12.5 million shares for $11 to $13 apiece. The terms indicate a market valuation of as much as $1.6 billion, based on 119.5 million shares outstanding, according to a filing with the U.S. Securities and Exchange Commission. Box intends to use a majority of the proceeds for sales and marketing, product development, administrative costs and capital expenditures.