With 2016 being such a lackluster year for tech IPOs, the announcement at the tail-end of last year that AppDynamics would go public gave investors hope that things may be looking up in 2017. But is the deal too good to be true?

On Thursday, in an updated filing, AppDynamics announced that it will price its IPO between $10 and $12 a share, Business Insider reports. But even at $12 a share, the IPO will value AppDynamics at around $1.5 billion – less than its last private valuation of $1.9 billion.

“That's not a great outcome for the company's existing backers, who invested in AppDynamics as a private company,” Business Insider’s Matt Weinberger writes. “And it's also a bad sign for other richly valued private companies waiting to go public. It' s very likely that investors will take AppDynamics' IPO performance as a referendum on the viability of so-called ‘unicorn’ startups — startups with private valuations of $1 billion or more — on the public markets.”

The San Francisco-based company plans to offer 12 million shares at $10 to $12 a share. It plans to raise up to $165.6 million, and plans to sell shares in a private placement to existing investors worth about $32.5 million, according to the Silicon Valley Business Journal.

AppDynamics was founded in 2008 to help business track their applications and websites.