EverCommerce Inc.
EVCM,
has set terms of its initial public offering, as the Colorado-based provider of software-as-a-service for small- and medium-sized service-based businesses looks to raise up to $344.1 million and be valued at up to $3.46 billion. The company is offering 19.12 million shares in the IPO, which is expected to price between $16 and $18 a share. The company expects 192.5 million shares to be outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "EVCM." There are 18 underwriters, led by Goldman Sachs, J.P. Morgan, RBC Capital Markets and KKR. The company recorded a net loss of $59.95 million on revenue of $337.53 million in 2020, after a loss of $93.75 million on revenue of $242.14 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF
IPO,
+0.67%
has gained 2.7% over the past three months while the S&P 500
SPX,
+0.51%
has tacked on 8.6%.