The Bumble initial public offering (IPO) is moving forward with the company revealing key details on Tuesday.
Bumble hasn’t revealed when exactly its IPO will launch but it can’t be far off based on recent news. The company revealed its IPO price range today. which prices shares between $28 and $30 each.
That price range sets Bumble up to raise as much as $1.04 billion from its IPO. The company is planning to offer 34.5 million shares of its stock. These will trade on the Nasdaq Exchange under the BMBL stock ticker.
Once the offering is complete, Bumble CEO Whitney Wolfe-Herd will own 14% of the company. Another 83% of the stock will be under the control of Blackstone Group (NYSE:BX). The lead underwriters for the offering are Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), Morgan Stanley (NYSE:MS) and JPMorgan Chase (NYSE:JPM).
Wolfe-Herd said this in a statement collected by TheStreet.com.
“While we are proud of how far we have come, having grown from a community of just a few people to an IPO, today is just day one. This marks the start of a very bright future for Bumble Inc., one that we believe will change lives and drive great value for shareholders.”
Potential investors in BMBL stock that want to know more about the dating service can follow this link for more details about the company.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.