Cybersecurity firm SentinelOne valued at nearly $11 billion in public debut
By Krystal Hu and Sohini Podder
(Reuters) -Shares of security software provider SentinelOne Inc jumped 21.4% in their U.S. stock market debut on Wednesday, giving the company a market capitalization of nearly $11 billion.
Its shares opened at $46 and finished the day at $42.5, above their initial public offering (IPO) price of $35, indicating investors' interest in fast-growing software companies in a week flooded with IPOs.
SentinelOne sold 35 million shares to raise about $1.23 billion in the IPO. It had earlier planned to sell 32 million shares priced between $31 and $32 per share.
"We're reaching a certain scale in our business, and we desire to be a trusted and transparent vendor as a public company," SentinelOne Chief Executive Tomer Weingarten said in an interview.
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(Reuters) -Shares of security software provider SentinelOne Inc jumped 21.4% in their U.S. stock market debut on Wednesday, giving the company a market capitalization of nearly $11 billion.
Its shares opened at $46 and finished the day at $42.5, above their initial public offering (IPO) price of $35, indicating investors' interest in fast-growing software companies in a week flooded with IPOs.
SentinelOne sold 35 million shares to raise about $1.23 billion in the IPO. It had earlier planned to sell 32 million shares priced between $31 and $32 per share.
"We're reaching a certain scale in our business, and we desire to be a trusted and transparent vendor as a public company," SentinelOne Chief Executive Tomer Weingarten said in an interview.
...
Read More on Datafloq
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