Upland Software Sets IPO Pricing Range

Austin-based Upland Software has moved one step closer to an IPO, saying in a filing late Monday that it is now expecting its IPO to price at between $12.00 and $14.00 per share. The company is hoping to sell 3,846,154 shares of its common stock in the IPO on the NASDAQ Global Market, as UPLD. The company is venture backed by Austin Ventures, Activant Holdings, and ESQ Capital LLC. An initial pricing range is one of the steps on an IPO to test the reception of a company's stock to institutional investors, and is typically done before the company's road show. Upland Software is a developer of cloud-based, enterprise work management software.