Monday.com Raises $574 Million in Above-Goal U.S. IPO
(Bloomberg) — Monday.com Ltd., the office administration software program maker, priced its U.S. preliminary public providing above a marketed vary to lift $574 million.
The Tel Aviv-based firm bought 3.7 million shares for $155 every on Wednesday, in response to an announcement. It had marketed them for $125 to $140.
The IPO provides Monday.com a market worth of about $6.8 billion primarily based on the excellent shares listed in its filings with the U.S. Securities and Alternate Fee. Together with inventory choices, the corporate’s diluted worth can be greater than $7.8 billion.
Salesforce.com Inc.’s enterprise arm and Zoom Video Communications Inc. has every agreed to buy $75 million the corporate’s shares in a non-public placement at IPO worth, in response to Monday.com’s filings.
Enterprise capital companies Perception Companions and Stripes, in addition to Entrée Capital, are among the many largest shareholders of Monday.com.
The providing is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. Monday.com’s shares are anticipated to start out buying and selling Thursday on the Nasdaq World Choose Market below the image MNDY.
(Updates with assertion in second paragraph.)
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