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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Zoom Video Communications Inc | NASDAQ:ZM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.82 | -1.33% | 60.83 | 60.81 | 60.83 | 61.13 | 60.3203 | 60.40 | 1,194,793 | 18:18:46 |
By Colin Kellaher
Monday.com Ltd. on Tuesday said it plans to sell 3.7 million shares at between $125 and $140 apiece in its initial public offering.
The Tel Aviv project-management software provider also said Salesforce Ventures LLC, the venture arm of business-software giant Salesforce.com Inc., and Zoom Video Communications Inc. have each agreed to invest $75 million in a private placement at the IPO price.
At the $132.50 midpoint of the expected price range, monday.com said it expects net proceeds of about $596.6 million from the IPO and private placements, or roughly $642.3 million if the underwriters exercise an option to buy an additional 370,000 shares.
In a filing with the U.S. Securities and Exchange Commission, monday.com said it would have about 44.1 million shares outstanding after the IPO and private placements, assuming exercise of the overallotment option, for a market capitalization of around $5.84 billion at the $132.50-a-share pricing midpoint.
Monday.com said it has applied to list its shares on the Nasdaq Global Select Market under the symbol MNDY.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 01, 2021 08:36 ET (12:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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