Cloud company Fastly to offer 11.3 million shares in IPO priced at $14 to $16 each
Cloud company Fastly set terms for its planned initial public offering on Monday, saying in a regulatory filing that it plans to offer 11.3 million shares priced at $14 to $16 each. The company is planning a dual listing of class A and B shares, with the class B shares holding 10 votes per share versus one vote for the A shares. BofA Merrill Lynch, Citigroup and Credit Suisse are lead underwriters on the deal with another six banks acting as co-managers. Proceeds of the deal will be used for working capital and general corporate purposes, including repaying debt and for potential strategic investments. The company has applied to list on the New York Stock Exchange under the ticker symbol "FSLY."
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