Construction Tech Firm EquipmentShare.com Raises $747.3 Million in U.S. IPO

Deep News01-23

U.S. construction technology company EquipmentShare.com completed its initial public offering (IPO) on Thursday, pricing shares within the expected range and raising a total of $747.3 million, highlighting robust investor demand for startups seeking entry into public markets. The company sold 30.5 million shares at a price of $24.50 per share, aligning with its previously projected price range of $23.50 to $25.50 per share. Founded in 2015 in Columbia, Missouri, EquipmentShare.com provides services including construction equipment rentals, resale, maintenance, and jobsite technology through its proprietary T3 platform. Regulatory filings indicate the company operates from 373 locations across 45 U.S. states, employs more than 7,500 people, and plans to expand its rental site network to approximately 700 locations over the next five years. Since its inception, the company has achieved a compound annual revenue growth rate of approximately 140% and projects its 2025 net profit to land between $5 million and $15 million, compared to a net profit of $2.4 million in 2024. Goldman Sachs, UBS Investment Bank, and Wells Fargo served as the lead underwriters for the offering. EquipmentShare.com's stock is scheduled to begin trading on the Nasdaq exchange on Friday under the ticker symbol "EQPT".

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment