nCino Inc. , a maker of cloud-based software for financial institutions, launched its initial public offering on Tuesday, with plans to offer 7.6 million shares priced at $22 to $24 each. The company would raise $182.4 million at the top of that range. nCino has applied to list on Nasdaq under the ticker ‘NCNO.’ There are seven banks underwriting the deal, led by BofA and Barclays. Proceeds of the deal will be used for general corporate purposes and working capital. “We empower banks and credit unions with the technology they need to meet ever-changing client expectations and regulatory requirements, gain increased visibility into their operations and performance, replace legacy systems, and operate digitally and more competitively,” the company says in its prospectus. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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