The Zuora IPO starts today and InvestorPlace has a few things to know about it.
- The Zuora IPO has the company pricing its shares at $14 each.
- The Zuora IPO includes 11,000,000 shares of its Class A common stock.
- These shares started trading today and will continue to be available through April 16, 2018.
- The company is trading these shares on the New York Stock Exchange under the stock ticker ZUO.
- There is also a 30-day option to purchase up to 1,650,000 additional shares of the Class A stock for underwriters.
- This offer keeps the price of ZUO stock at its IPO price.
- The lead bookrunners for the Zuora IPO are Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC.
- Additional bookrunners for the IPO include Allen & Company LLC and Jefferies LLC.
- Canaccord Genuity LLC and Needham & Company, LLC are acting as the co-managers of the IPO.
- The IPO price for ZUO stock gives the company a total value of $1.44 billion.
- It’s also a higher price than the previous estimates the company had provided for its IPO.
- The first estimate was between $9 and $11 and the second was between $11 and $13.
- The company has raised $154 million by selling the 11 million shares in its IPO.
- Zuora is a tech company that deals in the creation of enterprise software that helps automate billing, commerce and other operations.
As of this writing, William White did not hold a position in any of the aforementioned securities.