Friday, June 7, 2013

Textura Corporation (TXTR) IPO Rips Higher

June 7, 2013 9:51 AM EDT

The IPO for Textura Corporation (NYSE: TXTR) opened for trading on the NYSE at $24 per share, after pricing 5,000,000 shares of common stock at a price to the public of $15.00 per share.

Credit Suisse and William Blair are acting as joint book-running managers for the IPO, and JMP Securities, Oppenheimer & Co. and Barrington Research are acting as co-managers.

Textura is a provider of collaboration and productivity tools for the construction industry.

Textura has achieved significant growth since introducing its solutions to the market. In the fiscal years ended September 30, 2010, 2011 and 2012, the company generated revenue of $6.0 million, $10.5 million and $21.7 million, respectively, which represented growth over the prior period of 90.0%, 74.7% and 106.2%, respectively. In those same periods, they had net losses of $15.9 million, $18.9 million and $18.8 million, respectively.

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