nCino prices IPO above price range at $31 a share

nCino Inc. (NCNO), a maker of cloud-based software provider for financial institutions, priced its initial public offering at $31 a share late Monday, above its proposed price range of $28 to $29…

The company sold 8.06 million shares to raise $249.86 million.

The company upsized the deal from an original plan to offer 7.6 million shares and had increased its price range from a prior range of $22 to $24, suggesting strong demand from investors.

nCino shares are expected to start trading on Nasdaq later Tuesday, under the ticker ‘NCNO.’

There were seven banks underwriting the deal, led by BofA and Barclays.

Proceeds will be used for general corporate purposes and working capital.

“We empower banks and credit unions with the technology they need to…

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