- DevOps Platform provider GitLab Inc (NASDAQ:GTLB) priced 10.4 million Class A common shares at $77 per share in its initial public offering.
- The company had estimated to price the offering at $66 – $69 per share, up from the initially expected $55 – $60 per share range.
- The IPO includes 1.98 million shares by selling shareholder Sytse “Sid” Sijbrandij. Gitlab will not receive any proceeds from the share sale by the selling shareholder.
- GitLab is offering 8.42 million shares and expects estimated gross proceeds of $648.34 million.
- The shares will likely begin trading on the Nasdaq on October 14, under the ticker symbol “GTLB.”
- The underwriters have a 30-day option to purchase additional shares up to 1.04 million.
- Related Content: GitLab Seeks Up To $9B Valuation For Nasdaq Listing
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