SAP - Alight Files Placeholder For $100 Million IPO
Quick Take
Alight (ALIT) intends to raise gross proceeds of $100 million from a U.S. IPO, according to an S-1 registration statement.
The firm develops and provides cloud-based human capital management and benefits administration software.
ALIT is growing topline revenue only moderately and has a heavy debt load typical of private equity-owned IPOs.
Company & Technology
Lincolnshire, Illinois-based Alight was founded to help companies manage their employee health, financial, and HR needs.
Management is headed by CEO and Director Christopher A. Michalak, who has been with the firm since was previously.