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StreetInsider.com Top Tickers, 11/7/2021
Udemy (NASDAQ: UDMY), a US-based open course provider, has filed to go public next week. Here are 7 key things to know about the upcoming Udemy IPO.
1. Udemy IPO Date – Udemy will go public next Friday, October 29. Udemy will start trading under the ticker symbol “UDMY” on Nasdaq. Generally, shares that make their public stock market debuts start trading between 10 AM – 2 PM ET.
2. Udemy IPO Pricing – Udemy expects to price its shares between $27.00 and $29.00.
3. Shares Offered – Udemy is looking to sell 14,500,000 of its common stock. The S-1 filing shows the number of outstanding shares after IPO offering would be 137,427,466 shares.
4. Udemy IPO Valuation – Udemy is seeking a valuation of between $3.71 billion and $3.98 million.
5. Udemy IPO Raised Proceeds: At the midpoint of the pricing range, Udemy is looking to raise $406 million. The company intends to use raised proceeds for general business purposes.
6. Udemy IPO Underwriters – Morgan Stanley and JPMorgan are the key IPO underwriters. BofA, Citigroup, Jefferies and Truist are also participating in the offering.
7. Udemy Financials – Udemy recorded sales of $250.6 million for the first six months this year, an increase of 24.5% compared to the year-ago period. The company incurred a net loss of $29.4 million for the same period.
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