Unity Software Raises IPO Stock Price After Explosive Snowflake and JFrog Debuts
In an updated S-1 filed with the Securities and Exchange Commission (SEC) on Wednesday, Unity Software raised the stock price for its upcoming initial public offering (IPO) to a range of $44 to $48, up from a range of $34 to $42. With more than 263 million shares outstanding, this would value the company at between $11.6 billion and $12.6 billion.
Including the overallotment, there are as many as 28.75 million shares up for grabs, increasing the amount Unity could raise to as much as $1.38 billion at the high end of the increased range. This would be more than double the estimated $6 billion valuation that accompanied Unity's private equity raise in mid-2019.
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Source Fool.com
