Software company providing open-source tools and commercial products to enable developers connect and run cloud-computing infrastructure HashiCorp says that it is aiming a $13 billion market valuation following its upcoming U.S initial public offering (IPO).
The company is seeking to capitalize on the high number of investors interested in putting their investments behind software enterprise companies. The company will be offering 15.3 million shares with each share going for between $68 and $72 in the IPO.
Citing the regulatory filing, if the company decides to sell the share at the higher range then it will be fetching $1.1 billion from the IPO. Following the IPO, shares of the company will start trading on NASDAQ under the ticker symbol ‘HCP’.
The company has secured Goldman Sachs Group Inc. (SG), JPMorgan Chase & Co. (JPM) and Morgan Stanley (MS) to act as its underwriters in the initial public offering.
As of October 31, 2021, the California based company said it had more than 2, 392 customers distributed across 45 countries. Some of its clients include Stripe and Roblox Corp. (RBLX), Bank of America Corp. (BAC) and Goldman Sachs.