Alfi (NASDAQ:ALF) stock is trading with the company completing its initial public offering (IPO) that started on Tuesday and shares are doing well on Thursday.
Here’s everything investors need to know about Alfi and its IPO.
- Alfi is an artificial intelligence (AI) Software as a Service (SaaS) company.
- This has it offering up machine learning services to customers that provide them with personalized content.
- It was founded by CEO Dr. Paul A Pereira, CTO Charles Raglan, and CBDO John Cook in April 2018.
- The Alfi IPO saw the company offering up 3,731,344 shares of ALF stock and 3,731,344 warrants to purchase additional shares of that stock.
- The company was planning to list the shares for $4.15 each, which also included the warrant to purchase an extra share.
- That’s below its previous IPO price range of $5 per share and $7 per share.
- However, shares of ALF stock actually debuted even lower at $2.60 each.
- It’s also worth noting that the IPO includes a 45-day option for underwriters to purchase additional shares.
- That covers 559,701 shares and 559,701 warrants at the public offering price of the stock.
- While Alfi didn’t debut as high as it hoped, the stock has quickly been making up that lost ground over the last couple of days.
- It’s also been seeing quite a bit of trading from interested investors.
- Trading for Thursday has seen some 36 million shares change hands.
- That’s up from its daily average trading volume of 4.1 million shares.
- It’s also worth noting that the Alfi IPO reached completion today.
ALF stock was up 11.3% as of Thursday morning and is up 37.8% since going public.
There’s plenty of other IPO news outside of Alfi that investors need to be aware of.
That includes several interesting companies taking their business public. Among them are Five Star Bancorp (NASDAQ:FSBC), Honest Company (NASDAQ:HNST), and Valneva (NASDAQ:VALN). Investors that want to learn more about these recent IPOs can check out the following content from InvestorPlace.
More IPO News
- Five Star Bancorp IPO: 7 Things for Potential FSBC Stock Investors to Know
- Honest Company IPO: 8 Things for Potential HNST Stock Investors to Know as Shares Begin Trading
- Valneva IPO: 15 Things to Know About the Vaccine Maker as VALN Stock Debuts This WeekOn the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed