(Reuters) - Legal data company Relativity said on Thursday it had confidentially filed for an initial public offering in the US. The number of shares to be offered and the price range for the proposed offering have not been determined.
Chicago-based Relativity develops cloud-based software using AI to help legal teams analyze data and handle investigations, compliance, and other legal use cases.
Confidential filings with the U.S. securities regulator let companies prepare for IPOs away from public market scrutiny.
Tensions in the Middle East have weighed on broader markets, dampening risk appetite and delaying a broader rebound of the U.S. IPO market.