The Medallia (NYSE:MDLA) IPO was launched today, which has proven to be a success overall.
The enterprise software management firm — which holds it down in Silicon Valley — went public today. Here are five things to be aware of:
- The stock began trading Friday on the New York Stock Exchange under the ticker stock symbol MDLA.
- The IPO was priced at $21 per share, an amount that is higher than the previous range that was predicted, which lay somewhere between $16 and $18.
- The business added a higher number of shares in its offering as well, from 13.25 million to 14.325 million, a 7.5% increase, which is good for about $300.8 million.
- Medallia’s selling shareholders are rolling out an additional 1.175 million shares in the company’s IPO, which is consistent with the plans it had provided previously.
- The company said earlier in July that it would have more than 121 million shares outstanding after it went public, which would be good for a market valuation of $2.55 billion at the opening price.
- MDLA stock is gaining about 76% today, with shares now trading at about $37 apiece.
- Nearly 14.7 million shares traded hands for Medallia on this day, which could be the start of a new phase for the business.
Although it is based out of San Francisco, the business also has offices in other large global cities, including London, Munich and New York City.