Nutanix today set the terms of its initial public offering in a filing with the SEC. It will sell 14 million shares in the price range of $11 to $13. Based on a midpoint price of $12 per share, that’s a $168 million target. Additionally, the data center company plans to offer 2.1 million shares in an “overallotment option,” which gives underwriters the ability to sell additional shares under certain circumstances. In all, Nutanix could raise $173.8 million in the midpoint of its price range.

The data center hyperconverged infrastructure startup initially filed its IPO in December 2015 but then postponed it in February 2016. Nutanix has been stuttering along with its IPO plans ever since.

During the same time, the company has announced it was acquiring two startups – PernixData and Calm.io. PernixData’s software does scale-out data analytics; and Calm.io is an innovator in DevOps automation. Both acquisitions add to Nutanix’s data center technology to converge storage and compute across public and private clouds.

It plans to use the money raised from its IPO for capital expenditures and general corporate purposes.

Nutanix’s S-1 filing with the SEC estimates an initial market cap of $1.64 billion (calculated at a price of $12 per share). This market cap is substantially less than the $2 billion the company was valued at one point in 2014 after its Series E founding round.

“The support for the Nutanix IPO would to a certain extent depend on the overall market for enterprise technology and cloud infrastructure stocks, and I would say things have cooled off a bit since last year,” says SDxCentral analyst Scott Raynovich.

Despite the dampened tech IPO market and resultant decrease in Nutanix’s market valuation, the company has seen continued growth. According to its S-1 filing, on an annual basis, its total revenue was $127.1 million, $241.4 million, and $444.9 million for fiscal 2014, fiscal 2015 and fiscal 2016, respectively, representing year-over-year growth of 90 percent and 84 percent, respectively.

However, Nutanix’s losses have also increased. It reported net losses of $84.0 million, $126.1 million, and $168.5 million for fiscal 2014, fiscal 2015, and fiscal 2016, respectively.

The company has continued to add customers with 3,768 end-customers as of July 31, 2016, compared to 782 end-customers as of July 31, 2014.

The company was founded in 2009 and has raised $312 million in five rounds.

Nutanix is planning to trade on Nasdaq under the symbol NTNX.