Pinterest IPO details are starting to appear as the company prepares for the event.
Here’s what we know so far about the Pinterest IPO.
- The IPO will have Pinterest offering 75 million shares of its Class A common stock.
- Pinterest is targeting between $15 per share and $17 per share for its Class A stock in the IPO.
- This will have the total value of the Pinterest IPO ranging from $1.125 billion and $1.275 billion.
- The underwriters for the IPO will also have the option to purchase an additional 11.25 million shares of PINS stock.
- Lead underwriters for the IPO are Goldman Sachs, J.P. Morgan and Allen & Company.
- Other underwriters for the IPO include BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse Securities, Deutsche Bank Securities and RBC Capital Markets.
- Robert W. Baird & Co., UBS Securities and Wells Fargo are acting as co-managers for the IPO.
- The IPO will have the company listing its stock on the New York Stock Exchange under the stock ticker “PINS.”
- Pinterest also notes that each share of its Class A stock will be worth one vote.
- There will also be Class B shares of its stock that will belong to members of the company.
- These shares will be worth 20 votes each and will be convertible to Class A shares at any time.
- Following the IPO, Class B shares will control 99.2% of voting power at Pinterest.
You can follow this link to learn more about the Pinterest IPO.
As of this writing, William White did not hold a position in any of the aforementioned securities.