GitLab (GTLB) IPO Opens 22% Higher, Valuing Stock at $13.5 Billion
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Today's IPO for GitLab Inc. (NASDAQ: GTLB) opened for trading at $94.25 after pricing 10,400,000 shares of its Class A common stock at a public offering price of $77.00 per share, above the expected $66-$69 range which was raised from $55-$60.
The valuation based on the opening price is about $13.5 billion.
The offering consists of 8,420,000 shares of Class A common stock to be sold by GitLab Inc. and 1,980,000 shares of Class A common stock to be sold by an existing stockholder affiliated with Sytse “Sid” Sijbrandij, Gitlab Inc.’s Co-founder, Chief Executive Officer, and Board of Directors Chair.
Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering. UBS Investment Bank, RBC Capital Markets, Truist Securities and Piper Sandler are acting as joint book-running managers for the offering. Cowen, KeyBanc Capital Markets, and William Blair are acting as co-managers for the offering.
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Create E-mail Alert Related CategoriesHot IPOs, IPOs
Related EntitiesUBS, William Blair, JPMorgan, Goldman Sachs, KeyBanc, RBC Capital, Cowen & Co, IPO
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