Home Banking & Finance Post-IPO, Datto tops $4.5 billion in market value

Post-IPO, Datto tops $4.5 billion in market value

SHARE

Following the success of its IPO last week, Datto Holding Corp. now has a market value of $4.56 billion – quite a difference from the Norwalk software company’s pre-IPO cash and debt balances of $59.6 million and $582.2 million, respectively.

Datto expects to use $549.5 million of net IPO proceeds to pay down its existing credit facilities.

The firm successfully priced its IPO of 22 million shares of its common stock at $27 per share, raising $594 million in gross proceeds.

Datto – Connecticut’s first startup to hit the $1 billion mark in value – had roughly 157.5 million shares outstanding following its IPO.

It trades on the NYSE as “MSP.”

Print Friendly, PDF & Email

LEAVE A REPLY

Please enter your comment!
Please enter your name here