GitLab Announces Pricing of Initial Public Offering
GitLab Inc. announced the pricing of its initial public offering (IPO) of 10,400,000 shares, priced at $77.00 per share. The offering includes 8,420,000 shares sold by GitLab and 1,980,000 shares from an existing stockholder associated with CEO Sytse Sijbrandij. GitLab will not receive proceeds from the stockholder's share sale. Trading is set to begin on Nasdaq under the ticker symbol GTLB on October 14, 2021, with the offering closing on October 18, 2021, pending customary conditions. Underwriters also have a 30-day option to buy an additional 1,040,000 shares.
- IPO of 10,400,000 shares priced at $77.00 indicates strong market demand.
- Potential for additional 1,040,000 shares through underwriter's option may enhance capital.
- Trading begins on Nasdaq, increasing visibility and liquidity for investors.
- GitLab will not benefit from the sale of shares by the existing stockholder, limiting direct capital influx.
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SAN FRANCISCO, Oct. 13, 2021 (GLOBE NEWSWIRE) -- GitLab Inc., the provider of The DevOps Platform, announced today the pricing of its initial public offering of 10,400,000 shares of its Class A common stock at a public offering price of
The shares are expected to begin trading on the Nasdaq Global Select Market on October 14, 2021 under the ticker symbol “GTLB.” The offering is expected to close on October 18, 2021, subject to the satisfaction of customary closing conditions.
In addition, GitLab Inc. and the Selling Stockholder have granted the underwriters a 30-day option to purchase up to an additional 1,040,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering. UBS Investment Bank, RBC Capital Markets, Truist Securities and Piper Sandler are acting as joint book-running managers for the offering. Cowen, KeyBanc Capital Markets, and William Blair are acting as co-managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 13, 2021. The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or email: prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; or BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Dg.prospectus_requests@bofa.com.
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 GitLab Inc.
GitLab Inc. is the provider of The DevOps platform, a single application that brings together development, operations, IT, security, and business teams to deliver desired business outcomes.
Media Contact:
Natasha Woods
GitLab Inc.
press@gitlab.com
Investor Contact:
Willa McManmon
Blueshirt Group
ir@gitlab.com
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