Monday.com Raises $574 Million in Above-Target U.S. IPO


(Bloomberg) — Monday.com Ltd., the office administration software program maker, priced its U.S. preliminary public providing above a marketed vary to boost $574 million.

The Tel Aviv-based firm offered 3.7 million shares for $155 every on Wednesday, based on an announcement. It had marketed them for $125 to $140.

The IPO offers Monday.com a market worth of about $6.eight billion based mostly on the excellent shares listed in its filings with the U.S. Securities and Exchange Commission. Including inventory choices, the corporate’s diluted worth could be greater than $7.eight billion.

Salesforce.com Inc.’s enterprise arm and Zoom Video Communications Inc. has every agreed to buy $75 million the corporate’s shares in a non-public placement at IPO value, based on Monday.com’s filings.

Venture capital companies Insight Partners and Stripes, in addition to Entrée Capital, are among the many largest shareholders of Monday.com.

The providing is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. Monday.com’s shares are anticipated to start out buying and selling Thursday on the Nasdaq Global Select Market underneath the image MNDY.

(Updates with assertion in second paragraph.)

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