Instructure (INST) Launches 12.5M Share IPO at $19-$21/sh

Instructure Holdings, Inc. today announced the launch of the roadshow for its initial public offering of 12,500,000 shares of its common stock. Instructure also intends to grant the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of Instructure's common stock. The initial public offering price is currently expected to be between $19.00 and $21.00 per share. Instructure has been approved to list its common stock on the New York Stock Exchange (NYSE) under the ticker symbol "INST."

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Jefferies LLC and Macquarie Capital (USA) Inc. are acting as bookrunning managers for the proposed offering. Robert W. Baird & Co. Incorporated, BTIG LLC, Raymond James & Associates, Inc., Truist Securities, Inc., William Blair & Company, L.L.C., Academy Securities, Inc., C. L. King & Associates, Inc., Drexel Hamilton, LLC and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the proposed offering.

The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10282, Attn: Prospectus Department.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy them be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

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