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Opower Sets IPO Price Range, Could Raise $116 Million

Opower could raise nearly $116 million in its initial public offering, according to a filing with the Securities and Exchange Commission on Monday. The Arlington, Va., company set a price range of $17 to $19, as it looks to sell 6.1 million shares of common stock. Opower, which provides online software designed to improve energy efficiency for utilities, plans to list on the New York Stock Exchange under the ticker “OPWR.” Morgan Stanley and Goldman Sachs will act as lead book-running managers for the offering.

This article originally appeared on Recode.net.