UiPath Inc. /zigman2/quotes/226284328/composite PATH -0.39% has set terms for its initial public offering, in which the New York-based maker of software for automation systems could be valued at up to $25.8 billion. The IPO is expected to price between $43 and $50 a share. The company is offering 6.81 million Class A shares in the IPO, to raise up to $340.4 million, while selling shareholders are offering 14.47 million Class A shares. After the IPO, the company expects a total of 516.55 million Class A and Class B shares outstanding. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +1.22% has slipped 0.2% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% has gained 9.9%.