Crowded trade: CrowdStrike raises its proposed IPO range to $28 to $30

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CrowdStrike Holdings, which provides cloud-native endpoint security software for large enterprises, raised the proposed deal size for its upcoming IPO on Thursday.

The Sunnyvale, CA-based company now plans to raise $522 million by offering 18 million shares at a price range of $28 to $30. The company had previously filed to offer 18 million shares at a range of $19 to $23. At the midpoint of the revised range, CrowdStrike Holdings will raise 38% more in proceeds than previously anticipated.

CrowdStrike Holdings was founded in 2011 And booked $250 million in sales for the 12 months ended January 31, 2019. It plans to list on the Nasdaq under the symbol CRWD. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Barclays, Credit Suisse, Jefferies, RBC Capital Markets, Stifel, HSBC Corporation, Macquarie Capital, Piper Jaffray and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of June 10, 2019.

The article Crowded trade: CrowdStrike raises its proposed IPO range to $28 to $30 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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