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DocuSign CEO Daniel Springer. (DocuSign Photo).

DocuSign aims to raise up to $417.5 million when it goes public, according to a new filing with the U.S. Securities and Exchange Commission.

The digital signature giant listed an anticipated stock price of $24 to $26 in the filing. DocuSign plans to offer 16.06 million shares to the public and existing stockholders could sell another 5.6 million shares though the company says it won’t receive any proceeds from those shares selling. The maximum amount the company could raise is $648.8 million, according to the filing, should underwriters decide to buy their full allotment of shares.

For the year ending Jan. 31, 2018, DocuSign reported $518.5 million in revenue, an increase of 36 percent over the prior year. The company cut its net loss in that period from $115.4 million to $52.3 million.

DocuSign first filed for its IPO late last month, at the time saying it planned to raise up to $100 million. The increased target indicates an enthusiastic reception on Wall Street for DocuSign’s stock — part of a wave of interest in companies that develop enterprise software.

The company will trade on the Nasdaq under the ticker symbol DOCU.

DocuSign has raised more than $500 million since it was founded in 2003 and expanded beyond its early work in digital signatures into a range of electronic contract and business technologies. Long rumored to be an IPO candidate, the company said previously it was aiming to go public in early 2018. IBM, Microsoft, Visa, and Oracle have made bids to acquire DocuSign.

The company originally started in Seattle and later relocated its headquarters to the San Francisco Bay Area. However, its Seattle office at the 999 Third Avenue tower remains its largest, with more than 850 people as of December. DocuSign currently holds the top spot on the GeekWire 200 ranking of privately held Pacific Northwest tech companies, though its status as a public company will disqualify it from the ranking once it prices shares on the Nasdaq stock market.

DocuSign hired its current CEO, Daniel Springer, in January 2017 after a long search. Springer previously took marketing company Responsys public in 2011 and sold it to Oracle in 2013 for $1.5 billion. Former CEO Keith Krach is chairman of the board, and holds a 6.3 percent stake in the business.

In his first year on the job, Springer made $796,156, according to the latest filing. That figure is far less than the total compensation of Chief Strategy and Marketing Officer Scott Olrich ($14.7 million) and Chief Technology and Operations Officer Kirsten Wolberg ($4 million). However, Springer’s compensation did not include any bonuses, stock awards or option awards like the other two executives got. The CEO has more than $61 million in stock awards that haven’t vested yet, a figure that far exceeds that of the other two executives listed in the filing.

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