ServiceTitan (TTAN.US) plans to issue 8.8 million shares of stock with a price range of $52 to $57 per share.

California-based enterprise management software company ServiceTitan announced the specific terms of its IPO plan on Tuesday. According to the announcement, ServiceTitan plans to issue 8.8 million shares of stock through an initial public offering (IPO), with a price range set at $52 to $57 per share. At the midpoint of the range, the company's fully diluted market value will reach $5.6 billion. ServiceTitan offers an end-to-end cloud software platform specifically designed to manage and connect various business workflows for service contractors in traditional industries. Its services cover multiple industries, including plumbing, electrical, heating, ventilation, and air conditioning (HVAC), garage doors, pest control, landscaping, among others. The customer base ranges from family-owned businesses to large chain enterprises. In the 12 months ending on July 31, 2024, ServiceTitan processed a total transaction volume of $62 billion. As of January 31, 2024, the company had around 8,000 active customers, with each customer having an annual billing amount exceeding $10,000. Founded in 2007, ServiceTitan recorded revenue of $685 million in the 12 months ending on July 31, 2024. The company plans to list on the Nasdaq under the stock ticker "TTAN". The underwriters for this IPO include Goldman Sachs, Morgan Stanley, JPMorgan Securities, Citigroup, KeyBanc Capital Markets, Truist Securities, Canaccord Genuity, Needham & Co., Piper Sandler, Stifel, and William Blair. The offering is expected to be priced during the week of December 9, 2024.