The Cricut (NASDAQ:CRCT) initial public offering (IPO) is underway and investors are already hammering shares of the stock as it starts trading today.
Here’s everything investors need to know about the Cricut IPO.
- Cricut is listing shares of CRCT stock on the Nasdaq Exchange.
- The IPO had the company pricing shares of its stock at $20 each.
- Shares offered in the IPO are split by those offered by the company and those offered by other investors.
- The shares coming from Cricut in the IPO total 13.25 million.
- Shares coming from other investors are 2,064,903.
- There’s also an option for underwriters of the IPO to purchase an additional 2,297,235 shares of CRCT stock at the starting price.
- Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are serving as lead book-running managers for the offering.
- Citigroup (NYSE:C) Global Markets and Barclays (NYSE:BCS) Capital are acting as joint-book-running managers for the IPO.
- Finally, Robert W. Baird & Co. Incorporated is the co-manager for the offering.
- Cricut is a creative technology platform that offers a wide variety of products to its customers.
- That includes smart cutting machines and other devices that creators can use at home for crafting.
- Users can share creations through the platform, which has more than 4 million users.
- Cricut’s first day of trading has seen it move about 3.5 million shares as of this writing.
- Being that this is CRCT’ stock’s first day on the public market, we don’t have a daily average to compare that to.
- However, we do know that the stock’s first day of trading is rough already with it dropping below its IPO price of $20 per share.
- That has shares of the stock trading at closer to $17 per share.
CRCT stock was down 15.9% as of Thursday afternoon.
Cricut isn’t the only recent IPO worth talking about.
Interest in IPOs has been on the rise again lately as more companies choose it as a way to go public. Recent examples of this include DigitalOcean Holdings (NYSE:DOCN), Robinhood, and ThredUp. Interested investors can learn more about these companies’ IPO efforts at the following links.
More IPO News
- DigitalOcean IPO: 10 Things to Know as DOCN Stock Starts Trading
- Robinhood IPO News: 12 Things for Potential Robinhood Stock Investors to Know
- ThredUp IPO: When Does ThredUp Go Public? What Is the TDUP Stock IPO Price Range?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.