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Avalara Inc. has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering. The company intends to price its 7.5 million shares in the range of $21 to $23, with an overallotment option for an additional 1.125 million shares. The price range was raised in the latest filing from a previous range of $19 to $21.

At the maximum price the entire offering is valued up to $198.375 million. The company intends to list its shares on the NYSE under the symbol AVLR and trading is expected to begin Friday.

The underwriters for the offering are Goldman Sachs, JPMorgan, Merrill Lynch, JMP Securities, KeyBanc Capital Markets, and Stifel.

This company provides a suite of cloud-based solutions designed to improve accuracy and efficiency by automating the processes of determining taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. In 2017, the firm processed an average of over 16 million tax determinations per day.

The Avalara Compliance Cloud combines an advanced database of broad, deep, and up-to-date tax content with technology for executing compliance processes, including tax determination, tax document management, and returns preparation and filing. Its platform powers a suite of solutions that enable businesses to address the complexity of transaction tax compliance, process transactions in real time, produce detailed records of transaction tax determinations, and reduce errors, audit exposure, and total transaction tax compliance costs.

The company intends to use the net proceeds from this offering to repay some debt as well as for general corporate purposes, which it currently expects will include headcount expansion, continued investment in sales and marketing efforts, product development, general and administrative matters, and working capital.