SentinelOne worth $13.4b as underwriters exercise options

SentinelOne IPO Photo: SentinelOne

The Israeli cybersecurity company has raised $1.33 billion, after deducting underwriting discounts and commissions.

Israeli cybersecurity company SentinelOne (NYSE: S) has announced the closing of its Wall Street IPO of 40,250,000 shares of its Class A common stock, including the full exercise by the underwriters of their overallotment option to purchase 5,250,000 shares of Class A common stock, at a public offering price of $35.00 per share. SentinelOne said it received net proceeds from the offering of approximately $1.33 billion, after deducting underwriting discounts and commissions.

SentinelOne's share price has risen strongly in its first week of trading on the NYSE and is up 5.25% today to $52.09, nearly 505 above its IPO price, giving a market cap of $13.36 billion.

Morgan Stanley and Goldman Sachs acted as lead book-running managers and representatives of the underwriters for the offering and BofA Securities, Barclays, and Wells Fargo Securities acted as active book-running managers. UBS Investment Bank, Jefferies LLC, and Deutsche Bank Securities acted as additional book-running managers for the offering and Piper Sandler, BTIG, Cowen, Needham & Company, Loop Capital Markets, Drexel Hamilton, and R. Seelaus & Co., LLC acted as co-managers.

SentinelOne, which has developed an AI-based platform to protect end-points, was founded by CEO Tomer Weingarten, and Almog Cohen.

Published by Globes, Israel business news - en.globes.co.il - on July 7, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

SentinelOne IPO Photo: SentinelOne
SentinelOne IPO Photo: SentinelOne
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