Digital Ocean to price IPO at $44 to $47 a share, valuing cloud-computing firm at nearly $5B
Mar. 15, 2021 8:19 AM ETDigitalOcean Holdings, Inc. (DOCN)DOCNBy: Jerry Kronenberg, SA News Editor1 Comment
- Cloud-computing firm Digital Ocean (DOCN) estimated Monday that its upcoming IPO will price at $44 to $47 a share, raising as much as $891.8M and valuing the company at nearly $5B.
- DOCN disclosed the initial public offering’s price range for the first time Monday in an amended S-1 filing with the U.S. Securities and Exchange Commission.
- The company intends to sell as many as 16.5M shares through the IPO, raising $775.5M. However, it also expects to grant underwriters the option to buy as many as 2.475M additional shares for overallotments, potentially raising as much as $116.3M more.
- Digital Ocean plans to list on the New York Stock Exchange under the ticker “DOCN.”
- It first filed for an IPO on Feb. 25.
- Seeking Alpha contributor Donovan Jones did a deep dive into the IPO here.