Braze (NASDAQ:BRZE) is launching its initial public offering (IPO) today with some surprising news for potential investors.
Let’s take a dive into that news below!
- To start off with, the Braze IPO has it listing shares of the Nasdaq Exchange.
- These shares will trade under the BRZE stock ticker.
- Braze is offering shares for $65 each, which is above its previous price target range of $55 to $60 per share.
- The IPO includes 8 million shares of BRZE stock with 6.7 million being offered directly by the company.
- The remaining 1.3 million shares selling stockholders.
- There’s also a 30-day option for underwriters to purchase an additional 800,000 shares of the stock.
- The IPO has Braze raising $520 million with a potential for more if those options are exercised.
- But what exactly is Braze all about?
- The company is a “comprehensive customer engagement platform.”
- This has it generating interactions between consumers and brands.
- That’s possible through its data collection that can be utilized for ad campaigns.
- Braze is based out of New York but has offices all around the world.
- That includes locations in “Berlin, Chicago, London, San Francisco, Singapore, and Tokyo.”
- Bill Magnusonleads the company as its CEO with Jon Hyman acting as its CTO.
- The company was founded after the two joined a hackathon in 2011.
- This resulted in them meeting Mark Ghermezian.
- The three then founded Braze afterward.
While BTZE stock isn’t trading just yet, investors will want to keep an eye on it to see what happens to its price when it debuts.
We’ve also got more stock information traders will want to know about below!
InvestorPlace offers up daily deep dives into the stock market and today is no different. A few examples from today include the latest news concerning Arrival (NASDAQ:ARVL), Camber Energy (NYSEAMERICAN:CEI), and Lucid Group (NASDAQ:LCID). You can find out all about those topics at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.