Apax-Backed Paycor Raises $426 Million in IPO Priced Above Range

Apax-Backed Paycor Raises $426 Million in IPO Priced Above Range

(Bloomberg) -- Software maker Paycor HCM Inc., backed by the private equity firm Apax Partners, raised $426 million in an initial public offering priced above a marketed range.

The Cincinnati-based company sold 18.5 million shares for $23 each on Tuesday after offering them for $18 to $21, according to a statement. The IPO gives the company a market value of $3.9 billion based on the outstanding shares listed in its filing.

The listing is one of 27 seeking to raise more than $6.6 billion in one of the busiest weeks of the year on U.S. exchanges, according to data compiled by Bloomberg.