The Unity Software (NYSE:U) initial public offering (IPO) is underway and it’s already looking good for the game engine developer.
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Here’s what potential investors need to know
about the Unity Software IPO.
- Unity is listing its shares under the “U” stock ticker on the New York Stock Exchange.
- The company is offering 25 million shares of U stock for $52 each in the IPO.
- This is better than its initial price range for the IPO, which was between $44 per share and $48 per share.
- It has it raising $1.3 billion from the offering.
- There’s also a 30-day option for underwriters to purchase an additional 3.75 million shares of U stock at the IPO price.
- That opens Unity Software up to gain an additional $195 million from the IPO if that option is exercised.
- Goldman Sachs and Credit Suisse Securities are acting as the lead book-running managers for the IPO.
- Other book-runners include BofA Securities, Barclays, and William Blair.
- Oppenheimer & Co., Piper Sandler, Stifel, Wedbush Securities, Academy Securities, and Siebert Williams Shank are serving as co-managers of the offering.
- Unity Software is a company that developers the Unity game engine that is used by many game developers.
- The engine also has uses in other markets as well, such as for automotive design and architecture.
- The company was founded back in 2004 under the name Over the Edge Entertainment before changing to its current name in 2007.
U stock was on the rise Friday with shares climbing 32.6% higher as of the afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
