Monday.com Sets IPO at 3.7 Million Shares; Sees Pricing at $125-$140 Each
01 June 2021 - 10:46PM
Dow Jones News
By Colin Kellaher
Monday.com Ltd. on Tuesday said it plans to sell 3.7 million
shares at between $125 and $140 apiece in its initial public
offering.
The Tel Aviv project-management software provider also said
Salesforce Ventures LLC, the venture arm of business-software giant
Salesforce.com Inc., and Zoom Video Communications Inc. have each
agreed to invest $75 million in a private placement at the IPO
price.
At the $132.50 midpoint of the expected price range, monday.com
said it expects net proceeds of about $596.6 million from the IPO
and private placements, or roughly $642.3 million if the
underwriters exercise an option to buy an additional 370,000
shares.
In a filing with the U.S. Securities and Exchange Commission,
monday.com said it would have about 44.1 million shares outstanding
after the IPO and private placements, assuming exercise of the
overallotment option, for a market capitalization of around $5.84
billion at the $132.50-a-share pricing midpoint.
Monday.com said it has applied to list its shares on the Nasdaq
Global Select Market under the symbol MNDY.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 01, 2021 08:36 ET (12:36 GMT)
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