Shares of Pinterest
Pinterest is offering 75 million shares at $19 in its IPO, priced above the filing range of $15 to $17 to raise gross proceeds of $1.425 billion, while the smaller Zoom IPO is a $750 million transaction, of which about $357 million is being raised by the company, with the balance of the shares being offered by existing shareholders.
The Zoom deal, 20,869,565 shares at $36, was also priced above its amended filing range of $33 to $35, which had already been nudged from the initial $28 to $32 range.
The Pinterest IPO values the company at over $10 billion post-money, while Zoom is valued at over $9 billion out of the gate.
These two are the first technology IPOs to arrive since Lyft