DoorDash Announces Launch of Initial Public Offering

Rhea-AI Summary

DoorDash has initiated the roadshow for its initial public offering (IPO) of 33,000,000 shares of Class A common stock, with a projected price range of $75.00 to $85.00 per share. The shares will trade under the ticker symbol DASH on the New York Stock Exchange. Goldman Sachs & Co. LLC and J.P. Morgan are the lead book-running managers for this offering. A registration statement has been filed with the Securities and Exchange Commission, though it is not yet effective, meaning that no sales can occur until that status changes.

Positive

• Launch of IPO with 33,000,000 shares.
• Projected share price range of $75.00 to $85.00 signifies strong market interest.

Negative

• Pending registration statement may delay trading.
• Potential risk of share dilution.

SAN FRANCISCO, Nov. 30, 2020 /PRNewswire/ -- DoorDash, Inc. ("DoorDash") today announced that it has launched the roadshow for the initial public offering of its Class A common stock. DoorDash is offering 33,000,000 shares of its Class A common stock. The initial public offering price is expected to be between $75.00 and $85.00 per share. The shares are expected to trade on the New York Stock Exchange under the symbol "DASH."

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the proposed offering. Barclays, Deutsche Bank Securities, RBC Capital Markets, and UBS Investment Bank are acting as book running managers, and Mizuho Securities, JMP Securities, Needham & Company, Oppenheimer & Co. Inc., Piper Sandler, and William Blair are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 DoorDash

DoorDash is a technology company that connects customers with their favorite local and national businesses in more than 4,000 cities and all 50 states across the United States, Canada, and Australia. Founded in 2013, DoorDash empowers merchants to grow their businesses by offering on-demand delivery, data-driven insights, and better in-store efficiency, providing delightful experiences from door to door. By building the last-mile delivery infrastructure for local cities, DoorDash is bringing communities closer, one doorstep at a time.

Press Contact
press@doordash.com

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SOURCE DoorDash

FAQ

What is the share price range for DoorDash's IPO?

The expected share price range for DoorDash's IPO is between $75.00 and $85.00.

How many shares is DoorDash offering in its IPO?

DoorDash is offering 33,000,000 shares of its Class A common stock in the IPO.

When will the DoorDash shares start trading under the symbol DASH?

The shares are expected to trade on the New York Stock Exchange under the symbol DASH after the registration statement becomes effective.

Who are the lead managers for DoorDash's IPO?

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the IPO.

What does it mean that the registration statement has not yet become effective?

It means that the shares cannot be sold or offered until the registration statement is effective.