Snowflake Increases Blizzard-Size IPO Plans To $2.9B
Law360 (September 14, 2020, 5:48 PM EDT) — Database software provider Snowflake ratcheted up its initial public offering plans on Monday, saying it expects its shares to sell for over $100 apiece in a Cooley LLP-guided offering that could bring in roughly $2.9 billion at midpoint.
Snowflake Inc. said it plans to offer 28 million shares for $100 to $110 apiece, boosting its expected price range from its earlier range of $75 to $85. The California-based company is also still planning to sell $500 million worth of common stock in parallel private placement deals, U.S. Securities and Exchange Commission filings show.
Per the private placement deals, both Salesforce Ventures…