Tech startup Yext prices its IPO at $8 to $10 a share - seeking a valuation of up to $870 million
Yext
The company's updated S-1 filing states that it plans to sell 10.5 million shares of its common stock, raising $84 million at the bottom of the range or $105 million at the top end, minus fees.
The company is setting itself a valuation of between $684 million and as much as $870 million if shares are priced at the top end and the banks working on the listing exercise an option to issue extra shares.
Yext's shares will trade on the New York Stock exchange, under the symbol "YEXT".
Morgan Stanley, JP Morgan, RBC Capital Markets, Pacific Crest Securities, and Piper Jaffray are the underwriters of Yext's offering.
The company reported revenue of $124 million in the year to January 31, 2017 - an increase of 38% on the prior year. However, its losses widened from $26.5 million to $43.2 million.
Yext was founded in 2006 as an advertising services company and has raised $117.8 million in funding to date.
The company describes itself in its S1 as a "knowledge engine" that lets businesses manage their digital "knowledge" - such as menus, ATM locations, and retail hours - in the cloud and then sync that information to more than 100 directory services.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market