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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Salesforce Inc | NYSE:CRM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 3.17 | 1.18% | 271.86 | 273.08 | 267.94 | 270.43 | 3,894,275 | 01:00:00 |
From May 2019 to May 2024
By Colin Kellaher
Cloud computing services provider Snowflake Inc. on Monday raised the expected price range of its initial public offering, pushing its valuation over $29 billion.
The San Mateo, Calif., company said it now expects the offering of 28 million shares to be priced at between $100 to $110 each, up from a prior range of $75 to $85 apiece.
At the $105 midpoint of the new range, Snowflake said it expects net proceeds of about $3.3 billion, or roughly $3.8 billion if the underwriters exercise an option to buy an additional 4.2 million shares.
Snowflake has also agreed to sell $250 million in shares each to Berkshire Hathaway Inc. and the venture-capital arm of Salesforce.com Inc. in private placements.
The company said it will have about 277.3 million shares outstanding after the IPO and private placements, for a valuation of about $29.1 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 14, 2020 07:01 ET (11:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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