Unwinding expensive private capital investments is not what most companies say they will do with their IPO funds. They tend to dedicate the money to running their businesses, or for possible acquisitions. In this case, ServiceTitan says it will use whatever is left over as working capital for the company or other corporate uses.
This latest disclosure follows news that ServiceTitan sold its soul, so to speak, in 2022 when it raised a Series H round by agreeing to grant the investors in that round a “compounding IPO ratchet structure.”