Apptio Prices IPO At $16.00/shr

(RTTNews) - Apptio Inc. (APTI), a provider of cloud-based Technology Business Management software, said that it has priced its initial public offering of 6.00 million shares of Class A common stock at a price to the public of $16.00 per share.

In addition, Apptio has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Class A common stock at the initial public offering price. Apptio's Class A common stock is expected to begin trading on the NASDAQ Global Market under the symbol "APTI" on September 23, 2016.

The offering is expected to close on September 28, 2016, subject to customary closing conditions.