Box Inc. Prices IPO At $14/shr, Above Estimated $11.00-$13.00 Per Share Range

(RTTNews) - Box Inc. (BOX) announced the pricing of its initial public offering of 12.50 million shares of its Class A common stock at a price to the public of $14.00 per share, which is above estimated $11.00-$13.00 per share range.

In addition, Box has granted the underwriters a 30-day option to purchase up to an additional 1.875 million shares of Class A common stock to cover over-allotments, if any. The shares are expected to begin trading on the New York Stock Exchange on January 23, 2015 under the symbol "BOX."

Box provides a cloud-based, mobile-optimized Enterprise Content Collaboration platform that enables organizations of all sizes to easily and securely manage their content and collaborate internally and externally.

For the 12 months ended December 31, 2011, January 31, 2013 and 2014, revenue was $21.1 million, $58.8 million and $124.2 million, respectively, representing year-over-year growth of 179% and 111%.

The company invested and continue to invest heavily in its business to capitalize on its large market opportunity. As a result, the company incurred net losses of $50.3 million, $112.6 million and $168.6 million for the 12 months ended December 31, 2011, January 31, 2013 and 2014, respectively.