Major news came on Wednesday as JFrog (NASDAQ:FROG), a software and cloud company, announced its initial public offering (IPO). FROG stock is now available to investors.
The California-based company was founded in 2008 and offers a wide range of products through “liquid software” — tech that enables continuous updates. Additionally, the company boasts some of the top businesses as its customers. This includes Microsoft (NASDAQ:MSFT), Facebook (NASDAQ:FB) and Amazon (NASDAQ:AMZN), just to name a few.
That said, let’s take a look at the FROG stock IPO and three important pieces for investors to know:
- The IPO includes 11,568,218 ordinary shares at a price to the public of $44 per share.
- Of those nearly 11.6 million shares, 8 million are being offered by JFrog. The rest will be offered through JFrog’s existing shareholders.
- Nine different banks were a part of the deal, including Morgan Stanley, JPMorgan and Bank of America.
Shares of FROG stock are up more than 60% in intraday trading. The deal is set to close sometime on Friday.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
