The tax-management software maker's stock is expected to begin trading Friday on the New York Stock Exchange.
Seattle-based Avalara priced its initial public offering of stock at $24 Thursday, raising $180 million through an offering of 7.5 million shares.
The IPO price was above the expected range of $21 to $23, which had been boosted from a previous range of $19 to $21, Bloomberg News reported.
Avalara provides cloud-based services that enable e-commerce companies to navigate the thousands of separate local and national taxing jurisdictions in the U.S. and elsewhere. The company, which has previously raised more than $300 million from private investors, has had an aggressive acquisition strategy, buying at least 15 companies since it was founded in 2004.
Shares of the company are expected to begin trading Friday on the New York Stock Exchange under the symbol AVLR.
Most Read Business Stories
- Troublesome advanced engines for Boeing, Airbus jets have disrupted airlines and shaken travelers
- Pricey Seattle apartment tower ripping out pipes to fix leaks, as tenants fume
- Your Wi-Fi security is probably weak — here’s how to fix it
- Repealing head tax, Seattle avoids walking into the propeller | Jon Talton
- Amazon’s Alexa is now at home in new subdivisions, hotels