Dun & Bradstreet (NYSE:DNB) currently have an IPO underway that investors might want to keep an eye on.
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Here’s what’s worth noting from the Dun & Bradstreet IPO.
- The commercial data company is trading its stock on the New York Stock Exchange under the “DNB” ticker.
- The IPO has the company pricing shares of DNB stock at $22 each.
- That’s higher than its previously expected IPO range of $19 to $21 per share.
- The company is offering a total of 78,302,272 via the IPO.
- It also includes a 30-day option for underwriters to purchase an additional 11,745,340 shares at the IPO price.
- That means Dun & Bradstreet could raise as much as $1.98 billion from the IPO.
- The IPO starts today and is set to last until July 6, 2020.
- Dun & Bradstreet also notes that it’s receiving investments from three other companies for its stock.
- These investments come from subsidiaries of Cannae Holdings, Black Knight, and CC Capital Partners.
- This has them investing $200 million, $100 million, and $100 million into the company.
- These funds will have them purchasing shares of BND stock at a private placement price of $21.67 each.
- Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan, and Barclays are the leading joint book runners of the IPO.
- Dun & Bradstreet notes that it plans to use funds from the IPO in several ways.
- This includes redeeming all outstanding Series A Preferred Stock, repaying part of its 10.250% Senior Unsecured Notes outstanding due 2027, as well as for working capital and other typical uses.
DNB stock was up 13.4% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
