Instructure (INST) IPO Opens Flat, Moves Higher

Today's IPO for Instructure (NYSE: INST) opened for trading earlier at $16 after pricing 4,400,000 shares of its common stock at a price to the public of $16.00 per share, the low end of the expected $16-$18 range. Shares have since moved higher to $17.07.

organ Stanley and Goldman, Sachs & Co. will act as lead joint book-running managers for the offering with Jefferies LLC also acting as a book-running manager. Needham & Company, LLC, Oppenheimer & Co. Inc. and Raymond James & Associates, Inc. will act as co-managers for the offering.

Instructure provides an innovative, cloud-based learning management platform for academic institutions and companies worldwide. They have built their learning management applications, Canvas, for the education market, and Bridge, for the corporate market, to enable customers to easily develop, deliver and manage engaging face-to-face and online learning experiences. The company's platform combines powerful, elegant and easy-to-use functionality with the reliability, security, scalability and support required by our customers.

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