Guidewire Software Inc. today announced it plans to raise $115 million in its initial public offering of 8.85 million shares of its common stock at a price to the public of $13.00 per share. That’s well above the 7.5 million shares at $10 to $12 that the company had planned, Reuters reports. The shares are expected to begin trading on the New York Stock Exchange on Jan. 25, 2012 under the symbol “GWRE.” The company filed its IPO paperwork in September.

All of the common stock is being offered by Guidewire. In addition, Guidewire has granted the underwriters a 30-day option to purchase up to 1,327,500 additional shares of common stock to cover over-allotments, if any.

Founded in 2001, Guidewire has broadened its cores systems technology offering, and sees its sweet spot in a market that still uses outdated technology systems originally developed more than 30 years ago and that need replacement. The company currently has more than 100 customers, including Nationwide, CNA and American Family Insurance.

Two of the company’s biggest investors — U.S. Venture Partners and Bay Partners — have shown interest in purchasing up to 400,000 shares of common stock at the IPO price, according to the Wall Street Journal.

J.P. Morgan, Deutsche Bank and Citigroup are acting as joint book-running managers for the offering and Stifel Nicolaus Weisel and Pacific Crest Securities are acting as co-managers.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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.

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