PowerSchool valued at over $3 billion in NYSE debut as shares rise
Reuters | Jul 28, 2021 03:51 PM EDT
Signage for PowerSchool (NYSE:PWSC) is seen ahead of their Initial public offering (IPO) at the New York Stock Exchange (NYSE) in New York City, New York, U.S. (Photo : REUTERS/Andrew Kelly)
Shares of PowerSchool Holdings Inc rose 2.8% in their New York Stock Exchange debut on Wednesday, giving the cloud-based education software provider a valuation of about $3.57 billion.
PowerSchool s listing comes as school districts have steadily increased investment in cloud-based software solutions during the COVID-19 pandemic.
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Like Us on Facebook It (pandemic) put a bright shining light to the digital divide as well as need for digital transformation for school districts, Chief Executive Officer Hardeep Gulati told Reuters.
PowerSchool valued at over $3 billion in NYSE debut as shares rise
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Hoosiers will get a state tax refund when they file their taxes next year.
That’s because the state finished the year with budget reserves of $3.9 billion, triggering Indiana’s automatic taxpayer refund.
The automatic taxpayer refund was created a decade ago and only used once, in 2012, sending a $111 credit to Hoosier taxpayers.
After that, lawmakers made it harder to trigger. Essentially, Hoosiers get the refund if state budget reserve dollars are more than 12.5 percent of the total budget. And the state s tuition reserve – a sort of rainy day pot for school funding – isn t calculated as part of the total reserve.