ServiceTitan, Parent Company of FieldRoutes, Launches IPO

LOS ANGELES - ServiceTitan, parent company of FieldRoutes, announced on Dec. 12 that it has launched the roadshow for its proposed initial public offering of its Class A common stock. 

ServiceTitan has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) to offer an aggregate of 8,800,000 shares of its Class A common stock to the public. In addition, ServiceTitan intends to grant the underwriters a 30-day option to purchase up to an additional 1,320,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $52.00 and $57.00 per share. ServiceTitan has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “TTAN.”

Goldman Sachs & Co., and Morgan Stanley will act as lead book-running managers for the proposed offering. Wells Fargo Securities and Citigroup will act as additional book-running managers. KeyBanc Capital Markets, Truist Securities, Canaccord Genuity, Needham & Company, Piper Sandler, Stifel and William Blair will act as passive bookrunners. First Citizens Capital Securities, Academy Securities and Loop Capital Markets will act as co-managers. 

Source: ServiceTitan