Braze Announces Closing of Initial Public Offering

Rhea-AI Summary

On November 19, 2021, Braze, Inc. (Nasdaq: BRZE) successfully closed its initial public offering (IPO) of 8,800,000 shares of Class A common stock at $65.00 per share. This includes 800,000 shares sold through the underwriters' option. The offering features 7,500,000 shares sold by Braze and 1,300,000 shares by selling stockholders. Braze did not receive proceeds from the latter. Notable underwriters included Goldman Sachs & Co. LLC and J.P. Morgan. The registration statement was effective as of November 16, 2021.

Positive

• Successfully raised capital through an IPO of 8,800,000 shares.
• Shares priced at $65.00, indicating investor interest.

Negative

• Braze did not receive proceeds from 1,300,000 shares sold by existing stockholders, limiting financial gain.

NEW YORK, Nov. 19, 2021 /PRNewswire/ -- Braze, Inc. (Nasdaq: BRZE) today announced the closing of its initial public offering of 8,800,000 shares of its Class A common stock, including the full exercise of the underwriters' option to purchase an additional 800,000 shares of Class A common stock, at a price to the public of $65.00 per share. The offering consisted of 7,500,000 shares of Class A common stock issued and sold by Braze, and 1,300,000 shares of Class A common stock sold by the selling stockholders named in the prospectus. Braze did not receive any proceeds from the sale of shares by the selling stockholders. Braze's Class A common stock is listed on the Nasdaq Global Select Market under the ticker symbol "BRZE."

Goldman Sachs & Co. LLC, J.P. Morgan and Barclays acted as joint lead book-running managers for the offering. Piper Sandler and William Blair acted as joint book-running managers for the offering. Canaccord Genuity, Cowen, JMP Securities, Needham & Company, Oppenheimer & Co. Inc., Raymond James and Loop Capital Markets acted as co-managers for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone at 1-888-603-5847 or by emailing barclaysprospectus@broadridge.com.

A registration statement relating to the sale of these securities was filed with the Securities and Exchange Commission and was declared effective on Nov. 16, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Braze
Braze is a leading comprehensive customer engagement platform that powers interactions between consumers and brands they love. With Braze, global brands can ingest and process customer data in real time, orchestrate and optimize contextually relevant, cross-channel marketing campaigns and continuously evolve their customer engagement strategies. Braze has been recognized as one of Fortune's 2021 Best Workplaces in New York, Fortune's 2021 Best Workplace for Millennials, and 2021 UK Best Workplaces for Women by Great Place to Work. The company is headquartered in New York with offices in Berlin, Chicago, London, San Francisco, Singapore, and Tokyo.

Media Inquiries:
brazepr@icrinc.com 

Investor Relations:
Christopher Ferris
ir@braze.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/braze-announces-closing-of-initial-public-offering-301429333.html

SOURCE Braze

FAQ

What was the closing price of Braze's IPO shares?

The closing price of Braze's IPO shares was $65.00.

How many shares were offered in Braze's IPO?

Braze offered a total of 8,800,000 shares in its IPO.

When was Braze's IPO registration statement declared effective?

The registration statement for Braze's IPO was declared effective on November 16, 2021.

Who were the underwriters for Braze's IPO?

The underwriters included Goldman Sachs & Co. LLC, J.P. Morgan, and Barclays.

What is the stock symbol for Braze?

Braze is listed on Nasdaq under the symbol 'BRZE.'