GitLab's raised expected pricing of IPO, boosting valuation to up to $9. 9 billion

Published Oct 12 2021 at 10:23 AM GMT
  • GitLab Inc has raised the expected pricing range of its initial public offering to between $66 and $69 a share from between $55 and $60 a share last week.
  • The all-remote software company is still offering 8 42 million shares in the IPO, with the new pricing expectation boosting what the company will raise to $580.98 million, while selling shareholders are now looking to raise up to $136.
  • The new valuation for the company is up to $9.87 billion.
  • The company is looking to go public on the Nasdaq at a time that the Renaissance IPO ETF has lost 1 8% over the past three months while the S&P 500 has slipped 0 5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
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  • Published Oct 12, 2021 10:23 AM GMT