Cloud Computing Company DigitalOcean Aims to Raise $775.5 Million in IPO

DigitalOcean, the latest cloud computing company aiming to go public, has priced the shares that will comprise its upcoming initial public offering (IPO). In a prospectus filed on Monday, the company said that its stock will be sold for $44 to $47 per share.

The company is issuing 16.5 million shares. At the midpoint of the proposed price range, it stands to reap as much as $775.5 million.

With its suite of cloud services, DigitalOcean particularly targets small and mid-sized businesses (SMBs), especially ones in the early stages of development.

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Source Fool.com