Intapp Cloud Computing Firm Prepares for IPO, Terms Explained

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Jun. 28 2021, Published 1:45 p.m. ET

Another software-as-a-service operation is preparing to hit the public market. Intapp, a cloud computing firm that helps manage professional and financial services, recently set the terms for its forthcoming IPO.

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What should we expect with Intapp stock, and when can retail investors score company shares?

Intapp is end-to-end SaaS

Intapp provides software for professional and financial firms in the private equity, investment banking, legal, accounting, and consulting spaces. The company uses end-to-end cloud computing software that's infused with artificial intelligence.

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Founded in 2000, Intapp has evolved over the years and currently operates on a global scale. The company's recent acquisition of content management company Repstor proves its dedication to expansion and profit amid the public offering. CEO John Hall is a largely under-the-radar figure (his photo is hard to come by on the web). 

The Intapp IPO takes shape at $278 million

After setting the terms for its IPO, Intapp plans to raise $278 million in the offering. Insiders plan to purchase $60 million ahead of retail availability, accounting for nearly a quarter of the funds that will be raised.

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Intapp sets price range for common stock

Intapp's $278 million IPO will come in the form of 10.5 million shares. Each of those shares is priced at a starting range of $25–$28. For now, analysts are basing the expectations on the midpoint of that sale. Intapp will have to announce an official price point to make more predictions, but it will likely be somewhere around $26.50 per share.

Intapp's projected corporate valuation following its public launch

If all goes according to plan, Intapp will reap the rewards of a successful IPO. At the midpoint of its price range, the company could be worth $1.9 billion fully diluted. This is presuming that all outstanding shares are sold.

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How Intapp stacks up to the cloud computing competition

With $201 million in revenue in the year ending March 31, Intapp boasts a plethora of clients and a strong diversity in sales allocation. The company has more than 1,600 clients overall, 20 of which hold contracts worth more than $1 million ARR.

Intapp's direct competitors include SAP National Security Services, CloudLex, AbacusNext, Clio, and LexisNexis. As for cloud computing stocks on the public market, Intapp will be going against noteworthy names like Salesforce (NYSE:CRM), IBM (NYSE:IBM), Microsoft (NASDAQ:MSFT), Workday (NASDAQ:WDAY), and more. All of the companies had a decent 12 months ending June 28, and Intapp could easily shift the industry's trajectory.

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When is Intapp going public?

Intapp is expected to provide a firm share price this week, with its market debut following shortly after. Retail investors (as opposed to preferred investors) will be able to access the stock within hours of it going public, though there isn't a guarantee that it will still be at the starting price.

Look for the Intapp ticker symbol on the market

Intapp is eyeing the Nasdaq Exchange under the ticker symbol "INTA." Underwriters like JPMorgan, Bank of America Securities, and Credit Suisse are taking the lead on its IPO.

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