Melissa is a mother of 2, lives in Utah, and writes for a multitude of sites. She is currently the EIC of HarcourtHealth.com and writes about health, wellness, and business topics.

Pivotal Software, a part of computer giant Dell Technologies, reported on Monday that it expects its IPO (initial public offering) of 37 million Class A shares, priced between $14 and $16 per share, to raise up to around $592 million when floated.

The Pivotal division published its regulatory filing on Monday, plans to be listed on the New York Stock Exchange with the ticker symbol “PVTL” Goldman Sachs, Morgan Stanley, and Citi are the lead underwriters on the IPO deal.

Dell, the American multinational computer technology company based in Round Rock, Texas, United States is the world’s largest privately held technology company. The company that reported $54.9 billion in revenue in 2016 has found itself under a lot of pressure recently to increase profitability following its high-profile acquisition of debt-laden data storage provider EMC Corp. for $67 billion back in 2016. EMC Corp. has been considered a bit of a let-down as it has not met financial targets yet because of the growing software outsourcing market and intensified price competition.

Dell, founded in 1984 by Michael S Dell who is still the CEO, has been under the spotlight of late, with speculation that Pivotal was to be sold off before its announcement this week. How much will be raised in the IPO differs in reports. Marketwatch put the figure to be raised at $555 million, whilst CNBC put the figure at $592 million. Others put the amount to be raised as high as $681 million.

Pivotal which is headquartered in San Francisco, with a campus in Palo Alto and employing 2500 people, was borne in 2012 out of EMC and VMware. The control of Pivotal came after Dell purchased EMC Corp. for $67 billion in what was the largest takeover ever in the technology world.

Microsoft Corp and Ford Motor Co. were key investors in Pivotal when they partook in a $253 million funding bout in 2016.

The software which Pivotal is built around aids developers in building apps for the cloud. Pivotal recorded a net loss of $163.5 million in the latest fiscal year. Although disappointing, the figures was actually improved from the $232.9 million loss recorded in the year before. Pivotal’s revenue increased by 22 percent to $509.4 million.

Following the IPO, Dell looks set to control 70.1 percent of the total outstanding shares of Piovtal’s common stock. Dell will also control approximately 95.9 percent of the total voting power of classes A and classes B common stock.