This Bay Area tech unicorn prices IPO far above its initial range

//This Bay Area tech unicorn prices IPO far above its initial range

This Bay Area tech unicorn prices IPO far above its initial range

Medallia priced its IPO Thursday at $21 per share — $3 higher than the top of its range — giving the unicorn a valuation of nearly $3.5 billion. The San Francisco-based software-as-a-service (SaaS) company is one of nine newly minted tech initial public offerings nationally that priced above their range, said Matt Kennedy, senior IPO market strategist for IPO research firm Renaissance Capital. Medallia priced its IPO without raising its original range. "A $3 increase is unusual but not unheard…

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By | 2019-07-19T03:30:56+00:00 July 19th, 2019|Economics|

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