San Francisco: California based software company Splunk has announced the pricing of its IPO of 13,500,000 shares of common stock at a price of the public of $17.00 per share. A total of 12,507,278 shares are being offered by the company, and a total of 992,722 shares are being offered by selling stockholders.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 2,025,000 shares to cover over-allotments, if any. The company will not receive any proceeds from the sale of shares by the selling stockholders. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for the offering, and UBS Securities LLC, Pacific Crest Securities LLC and Cowen and Company LLC are acting as co-managers. Splunk's common stock will trade on the Nasdaq Stock Market under the symbol "SPLK."

Splunk provides software to analyze and interpret the businesses data. Its vision is to make machine data accessible, usable, and valuable to everyone. Machine data is one of the fastest growing and most pervasive segments of ‘big data’, generated by websites, applications, servers, networks, mobile devices, and other similar data relied on by organizations. The company turns machine data into valuable insights regardless of the business.

Splunk was founded in 2004 by Rob Das, Michael Baum, and Erik Swan. It has over 400 employees worldwide and has over eight offices around the world. The company has raised a total of $40 million in VC fundings till date, which include $5 million in series A from August Capital in 2004, $10 million in series B from JK&B Capital in 2006. It also raised $25 million in series C from August Capital, Ignition Partners, JK&B Capital and Sevin Rosen Funds in 2007.