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

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.”