UiPath opens for trading at $65.72， above IPO price of $56.
UiPath is an automation software maker. The software UiPath provides helps automate repetitive tasks, increasing efficiencies for its clientele. The company’s products have become increasingly attractive for companies looking to boost productivity amid the global pandemic. Accordingly, investors seem bullish on what will be PATH stock.Demandfor this IPO appears to be much higher than initially expected.
Let’s take a look at some of the most important details about the UiPath IPO for potential investors in PATH stock.
- To start off with, the company is listing its shares on the New York Stock Exchange under the PATH stock ticker.
- The company islisting shares of its stock for $56 each.
- That’s higher than its expected IPO price range,which valued shares between $52 to $54 each.
- UiPath’s IPO also has it offering up 9,416,384 shares of PATH stock.
- Selling stockholders are listing 14,474,393 shares of stock in the IPO.
- However, the company’s won’t see any proceeds from selling stockholders offering up their shares.
- There’s also a 30-day option for underwriters of the IPO to purchase an additional 3,583,616 shares.
- Morgan Stanley(NYSE:MS) andJPMorgan(NYSE:JPM) and the lead acting bookrunners of the IPO.
- Bank of America(NYSE:BAC) Securities,Credit Suisse(NYSE:CS),Barclays(NYSE:BCS), andWells Fargo(NYSE:WFC) Securities are active bookrunners for the offering.
- Several others are also acting as passive bookrunners of the IPO.
- UiPath’s IPO is set to end on Friday.
- The company is a developer of automation software.
- This software allows its customers to increase efficiency by automating repetitive tasks.
- It looks like investors are hungry for a stock like PATH.
- UiPath was previously targeting a price range of $43 to $50 with 21.3 million shares.
- Instead, the company increased the price and share amount to meet demand from potential investors.
- That means there are high expectations for PATH stock to perform well when it goes public.
- Excited investors will just have to wait until it starts trading later today to see if the stock can meet those expectations.