Companies like to talk about their journey in raising money and growing over time, and one waypost for such journeys is to reach the ringing bells of a stock-market debut. PowerSchool Holdings, Inc. heard those bells today, as the company began trading on the New York Stock Exchange—though the initial price ended up on the low end of expectations.
It looks like the company, which offers student information systems for schools, will raise about $711 million, with shares priced at $18 each (some thought the price could be as much as $20). Much of that money will apparently go toward paying off debt and covering fees related to going public, though officials say they are also putting $1 million in a donation to “philanthropic initiatives to benefit K-12 educators.”
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