7 Things to Know About the Upcoming $13 Billion IPO for HashiCorp, Inc. (HCP)
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HashiCorp, Inc. (NASDAQ: HCP) is set to launch its U.S. IPO next week. HashiCorp, Inc. enables the world's largest companies to provision, secure, connect, and run cloud infrastructure to support their applications. The company’s primary commercial products are Terraform, Vault, Consul, and Nomad. Below are 7 important facts to focus on into the IPO:
1. HashiCorp, Inc. IPO Timing: HashiCorp, Inc. is expected to have its IPO on the NASDAQ on Dec 9, 2021. The stock ticker is 'HCP'. Normally IPOs on the NASDAQ began trading between 10AM-2PM ET.
2. HashiCorp, Inc. IPO Price: The company anticipates the initial public offering price to be between $68.00 and $72.00 per share.
3. Shares Offered: The company is offering 15,300,000 shares of Class A common stock with an option for underwriters to purchase additional 2,295,000 shares. There will be a total of 178,895,570 shares of Class A and Class B common stock (or 181,190,570 shares if the underwriters exercise their option to purchase additional shares in full) outstanding after this offering.
4. HashiCorp, Inc. IPO Valuation: A pricing at the midpoint of the range would value the company at around $13 billion.
5. IPO Underwriters: Morgan Stanley, Goldman Sachs, and J.P. Morgan are acting as the lead underwriters for the offering.
6. Important HashiCorp, Inc. Financials: Total revenues for fiscal 2020 and 2021 were $121.3 million and $211.9 million, respectively, representing an annual growth rate of 75%, and the total revenues for the nine months ended October 31, 2020 and 2021 were $150.0 million and $224.2 million, respectively, representing a period-over-period growth rate of 49%.
7. HashiCorp, Inc. Total Addressable Market (TAM): According to the 650 Group in June 2021, collectively, the company’s primary four markets (Terraform, Vault, Consul, and Nomad) were estimated to be $41.7 billion in 2021 and projected to reach $72.5 billion by 2026.
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