Demandware Inc. says its initial public offering of 5.5 million shares priced at $16 per share, above its expectations.
The Burlington, Mass.-based company provides an on-demand e-commerce platform for large retailers and brands. It had expected its IPO to price between $12.50 and $14.50 per share.
The underwriters of its IPO have a 30-day option to buy up to 825,000 additional shares to cover any over-allotments. The shares will start trading on the New York Stock Exchange Thursday under the symbol "DWRE."
The book-running managers for the IPO are Goldman Sachs and Deutsche Bank Securities. William Blair & Co., Canaccord Genuity and First Analysis Securities are the co-managers.