Thursday 22nd April, 2021
Robotic Process Automation provider UiPath announced on Tuesday this week the pricing of its initial public offering (IPO) of 23,890,777 shares of Class A common stock at a price to the public of $56.00 per share.
The shares began trading on the New York Stock Exchange on Wednesday, and the offering is expected to close on 23rd April 2021.
UiPath rose 23% in the company’s stock market debut on Wednesday after the software vendor and its investors reeled in $1.34 billion in the company’s IPO. The shares closed at $69.
If underwriters buy their allotted shares, UiPath’s offering will be the third-biggest ever for a U.S. software company, behind only cloud database vendor Snowflake, which raised $3.9 billion in September, and Qualtrics, which pulled in $1.78 billion in January after spinning out of SAP. CNBC reported.
This comes after UiPath filed confidential paperwork with the U.S. Securities and Exchange Commission SEC ahead of a potential IPO in January.