SPS Commerce Inc., which provides supply chain software services to businesses, priced its initial public offering within its expected range Wednesday night, raising $49.1 million.
SPS Commerce and its shareholders sold 4.1 million shares, more than expected, to initial investors for $12 apiece. The IPO had been expected to price 3.3 million shares at $11 to $13 each.
Underwriters led by Thomas Weisel may buy another 614,500 shares to cover excess demand.
The Minneapolis company's shares are expected to begin trading Thursday on the Nasdaq under the symbol "SPSC."