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GitLab Seeks Up To $9B Valuation For Nasdaq Listing

Coding platform GitLab Inc (NASDAQ: GTLB) aims to sell 8.42 million shares at $55 – $60 per share via U.S. initial public offering.

October 4, 2021

1 minute read

Coding platform GitLab Inc (NASDAQ:GTLB) aims to sell 8.42 million shares at $55 – $60 per share via U.S. initial public offering.
Selling shareholders are selling 1.98 million shares. The maximum gross proceeds are $624 million.
It targets a valuation of up to $8.6 billion based on 143 million shares for a Nasdaq listing.
GitLab creates online tools to reduce the software development cycle by allowing teams to collaborate, Reuters reports. It was last valued at $6 billion after a secondary share sale in January.
GitLab counts Nvidia Corp (NASDAQ: NVDA), Siemens AG (OTC: SIEGY), and Goldman Sachs Group Inc (NYSE: GS) among its customers.