Shares of Model N rise in debut

March 20 (Reuters) - Shares of Model N Inc rose as much as 35.5 percent in their trading debut, after the revenue management software maker priced its enlarged offering above its projected price range.

The Redwood City, California-based company had priced its initial offering of 6.7 million shares at $15.50 each, raising $103.85 million. At the offer price, Model N has a market value of about $332 million.

The company sold 6 million shares in the offering, while the selling stock holders sold the rest.

Model N provides revenue management software to life science and technology companies to help them manage pricing and contracting.

The company, which filed for an IPO in February 2013, counts Johnson & Johnson, Boston Scientific Corp, Dell Inc and VMware Inc among its customers.

Model N is backed by Accel-KKR Co LLC, a partnership between venture capitalist firm Accel Partners and private equity firm KKR & Co LP.

The company plans to use the proceeds for investing in research and development and complementary businesses. It reported a net loss of $1.3 million for the three months ended Dec. 31.

JP Morgan and Deutsche Bank acted as joint book-running managers to the offering.

Shares of Model N were trading at $20.87 on the New York Stock Exchange on Wednesday morning.