Palantir (PLTR) Direct Listing IPO Opens 38% Higher

Today's direct listing IPO for Palantir (NYSE: PLTR) opened for trading at $10 after a $7.25 initial reference price.

As of September 28, 2020, there were 1,163.5 million shares of Palantir’s Class A common stock outstanding, 483.7 million shares of Class B common stock outstanding, and 1.0 million shares of Class F common stock outstanding, including shares that are permitted to be sold under Palantir’s market standoff or lock-up agreements.

Only shares of Class A common stock will be listed for trading on the New York Stock Exchange. Each outstanding share of Class B common stock is convertible, at any time, at the option of the holder, into one share of Class A common stock.

Palantir was founded in 2003 and started building software for the intelligence community in the United States to assist in counterterrorism investigations and operations. They later began working with commercial enterprises.

The data analytics software provider said it expects its revenue to come in between $278 million to $280 million for the third quarter ending September 30. This implies an increase 46% on a year-to-year basis. Palantir is looking to surpass $1 billion in revenue for the full-year ending December 31. It expects $121 Million in non-GAAP operating income for the full year.

You May Also Be Interested In

• Lyntris opens at $15.50, below IPO price of $17.50
• Anthropic pre-IPO credit facility to climb past $10B target - Bloomberg
• Karman Line Acquisition prices $200M IPO on Nasdaq