Rally Software Development to conduct initial public offering of stock

Proceeds used for working capital and other general corporate purposes

By Devika Patel

Knoxville, Tenn., March 11 - Rally Software Development Corp. will price an initial public offering of common stock, according to a Form S-1 filed Monday with the Securities and Exchange Commission. The company expects its shares will trade on the NYSE under the symbol "RALY."

The deal will have a greenshoe option.

Deutsche Bank Securities, Piper Jaffray, Needham & Co., JMP Securities and William Blair are assisting.

Proceeds will be used for working capital and other general corporate purposes.

The Boulder, Colo., company provides cloud-based products for managing Agile software development.

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