The IPO Buzz: ServiceTitan (TTAN Proposed) Increases Price Range to $65-$67 Vs. $52-$57

ServiceTitan (TTAN Proposed) increased its IPO’s price range to $65 to $67 – up from $52 to $57 originally – and kept the deal’s number of shares at 8.8 million shares – to raise $580.8 million, if the IPO is priced at its new mid-point of $66, according to an S-1/A filing early today – Tuesday, Dec. 10, 2024.

Bankers intend to price ServiceTitan’s IPO on Wednesday night, Dec. 11, 2024, after the closing bell – to trade Thursday, Dec. 12, 2024, on the NASDAQ. Goldman Sachs, Morgan Stanley, Wells Fargo Securities and Citigroup are the joint book-runners. (The investment banking team counts 10 more names.) ServiceTitan, based in Glendale, California, is a cloud platform for “the trades” – plumbers, electricians, HVAC technicians and contractors, landscapers, and more. The company, founded in 2007, provides a cloud platform that handles everything from advertising and job scheduling to generating estimates and invoices, payment processing and more. It’s the brainchild of Ara Mahdessian and Vahe Kuzoyan, who are the sons of trades business owners, according to the prospectus.  ServiceTitan is not profitable: For the 12 months that ended July 31, 2024, ServiceTitan reported a net loss of $183 million on revenue of $658 million. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.