C3.ai IPO: 16 Things for Potential AI Stock Investors to Know

C3.ai (NYSE:AI) is moving forward with its initial public offering (IPO) after pricing shares above its previous estimate.

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Here’s what potential investors in the company need to know about the C3.ai IPO.

  • To start with, the company has listed its shares on the New York Stock Exchange under the AI ticker.
  • The IPO starts today and is expected to close on Friday.
  • C3.ai is offering 15.5 million shares of AI stock in its IPO.
  • The company has priced these shares at $42 each.
  • That’s above the company’s previous IPO target range of $36 to $38 per share.
  • That sets C3.ai up to gain as much as $651 million from its IPO.
  • Underwriters also have the option of acquiring an additional 2.325 million shares at the IPO price.
  • The lead book-running managers for the IPO are Morgan Stanley, J.P. Morgan, and BofA Securities.
  • C3.ai is an artificial intelligence (AI) company that offers its services to major corporations.
  • These companies use its AI software to predict outcomes and plan around them.
  • Its most recent fiscal year ended in April.
  • At that time, it reported a net loss of $69.4 million on revenue of $156.7 million.
  • Revenue was up 71.1% from the $91.6 million reported in the previous fiscal year.
  • Subscription revenue for that period was up 75% from $77.5 million to $135.4 million.
  • Subscriptions are the company’s main source of revenue, making up 86% of total revenue reported for the fiscal year.
  • C3.ai was founded in 2009.

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/2020/12/c3-ai-ipo-stock-details-to-know/.

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