Credit: Shutterstock photoMongoDB, which provides enterprises with an open source NoSQL database platform, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $152 million by offering 8.0 million shares at a price range of $18 to $20. At the midpoint of the proposed range, MongoDB would command a fully diluted market value of $1.1 billion.
MongoDB was founded in 2007 and booked $124 million in sales for the 12 months ended July 31, 2017. It plans to list on the Nasdaq under the symbol MDB. Morgan Stanley, Goldman Sachs, Barclays and Allen & Company are the joint bookrunners on the deal. It is expected to price during the week of October 16, 2017.
The article Database unicorn MongoDB sets terms for $152 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
