ServiceTitan, the software platform that helps power trade businesses and the parent company of Aspire Software, has filed paperwork for an initial public offering (IPO) of Class A common stock.
In a press release, ServiceTitan said the number of shares to be offered and the price range for the proposed offering have yet to be determined. The company is working with Goldman Sachs & Co. and Morgan Stanley as lead book-running managers for the proposed offering. The stock will be listed under the ticker symbol “TTAN.”
In December 2023, Reuters reported that ServiceTitan had been preparing to go public in 2022 before the market for IPOs soured.
When ServiceTitan acquired Aspire in June 2021, Aspire CEO Mark Tipton said that the two companies “share a similar mission to improve the lives of contractors and provide the software they need to run a successful business and get back their peace of mind. ServiceTitan has an amazing track record building the most successful software business in the trades — we’re excited to learn from their experience as we scale Aspire.”
The ServiceTitan press release added that a host of other Wall Street titans will be involved with the IPO. Wells Fargo Securities and Citigroup will act as additional book-running managers. KeyBanc Capital Markets, Truist Securities, Canaccord Genuity, Needham & Company, Piper Sandler, Stifel and William Blair will act as passive bookrunners. First Citizens Capital Securities, Academy Securities and Loop Capital Markets will act as co-managers.
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