Snowflake Raises Target Range Due to Massive Interest in Its IPO
In a new regulatory filing on Monday, Snowflake raised the target price range of its upcoming stock offering to $100-$110, up from $75-$85. With 28 million shares being offered, this boosts the amount Snowflake could raise to as much as $3.08 billion.
Snowflake submitted a revised S-1 to the Securities and Exchange Commission (SEC) today and plans to trade on the New York Stock Exchange using the ticker symbol "SNOW." The company has yet to disclose when it will begin trading, but several reports suggest its initial public offering (IPO) could come as early as Tuesday or Wednesday.
Warren Buffett. Image source: The Motley Fool.
Source Fool.com
