The Man Who Recommended 23 1,000% Winners Is Revealing His #1 Stock for 2020

You’ll get the name & ticker of Matt McCall’s top pick when you tune in to his FREE event.

Tue, October 20 at 4:00PM ET
 
 
 
 

Snowflake IPO: 12 Things for Potential SNOW Stock Investors to Know

The company plans to raise $2.7B from its IPO

Snowflake is prepping for an initial public offering (IPO) and it could have the cloud data storage company bringing in $2.7 billion.

A hand touches a digital chart with the text "IPO."
Source: Shutterstock

Here’s what investors need to know about the Snowflake IPO.

  • Details about the IPO were revealed by the company in a filing with the U.S. Securities and Exchange Commission on Tuesday.
  • In that filing, the company says it plans to sell 32.2 million shares of its stock to investors.
  • It would also include an option for underwriters to purchase an additional 4.2 million shares of its stock.
  • The stock will be listed on the New York Stock Exchange under the “SNOW” stock ticker.
  • The company hopes to price the shares for as much as $85 each in the IPO.
  • The filing mentions that the company is hoping to price its shares of SNOW stock between $75 per share and $85 per share.
  • In total, Snowflake expects to raise about $2.74 billion from the IPO.
  • Snowflake also points out that it has entered into an agreement with Salesforce Ventures and Berkshire Hathaway (NYSE:BRK.A,BRK.B) for the IPO.
  • That will have each of those companies purchasing a total of $250 million worth of its Class A shares.
  • Class A shares will hold one vote each and Class B shares will be worth 10 votes each.
  • The IPO will result in Class B shareholders controlling 98.4% of the voting power at the company.
  • Of that 98.4%, leaders at Snowflake will control 70.1% of the voting power.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/snowflake-ipo-things-to-know/.

©2020 InvestorPlace Media, LLC