Udemy (UDMY) IPO Opens 7% Lower

Today’s IPO for Udemy, Inc. (NASDAQ: UDMY) opened for trading at $27 after pricing 14,500,000 shares of its common stock at $29.

Morgan Stanley, J.P. Morgan, Citigroup, BofA Securities, Jefferies, and Truist Securities are acting as book-running managers for the offering. KeyBanc Capital Markets, Piper Sandler, William Blair, Baird, and Needham & Company are acting as co-managers for the offering. The underwriters initially propose to offer part of the shares of common stock directly to the public at the public offering price and part to certain dealers, including Drexel Hamilton and Guzman & Company, at the public offering price less a specified concession.

The company posted a 24.5% increase in sales for the first six months of 2021, bringing the total to $250.6 billlion.

Udemy is a US-based open course provider.

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