ServiceTitan made a few interesting disclosures about what it will do with the money from its IPO and who it will sell the stock to.

ServiceTitan, a Glendale tech firm that makes business management software for plumbers, painters and other contractors, announced Tuesday that it wants to raise up to $502 million in its initial public offering on the Nasdaq.

Software startup ServiceTitan is seeking a valuation of as much as $5.16 billion in its initial public offering in the United States, in what could be one of the final few flotations of the year that saw a revival in the market for new listings.