UiPath Announces Closing of Initial Public Offering

Rhea-AI Summary

UiPath, Inc. (NYSE: PATH) has successfully closed its IPO, offering 27,474,393 shares of Class A common stock at $56.00 per share. This includes 13,000,000 shares sold by UiPath and 14,474,393 shares sold by certain stockholders. The company did not receive proceeds from the latter. The offering was led by Morgan Stanley and J.P. Morgan, with several other banks participating. The registration statement was declared effective on April 20, 2021. This press release does not constitute an offer to sell or solicit any offers to buy these securities.

Positive

• Successful IPO of 27,474,393 shares at $56.00 per share.
• Involvement of reputable underwriters like Morgan Stanley and J.P. Morgan.

Negative

• UiPath did not receive proceeds from shares sold by stockholders, limiting capital influx.

UiPath, Inc. (NYSE: PATH) today announced the closing of its initial public offering of 27,474,393 shares of its Class A common stock, including the full exercise of the underwriters’ option to purchase an additional 3,583,616 shares of Class A common stock, at a price to the public of $56.00 per share. The offering consisted of 13,000,000 shares of Class A common stock issued and sold by UiPath, and 14,474,393 shares of Class A common stock sold by the selling stockholders named in the prospectus. UiPath did not receive any proceeds from the sale of shares by the selling stockholders. UiPath’s Class A common stock is listed on the New York Stock Exchange under the ticker symbol “PATH.”

Morgan Stanley and J.P. Morgan acted as lead bookrunners for the offering. BofA Securities, Credit Suisse, Barclays, and Wells Fargo Securities acted as active bookrunners for the offering. SMBC Nikko, BMO Capital Markets, Mizuho Securities, KeyBanc Capital Markets, TD Securities, Truist Securities, Cowen, Evercore ISI, Macquarie Capital, Nomura, and RBC Capital Markets acted as passive bookrunners for the offering. Canaccord Genuity, D.A. Davidson & Co., Oppenheimer & Co., and Needham & Company 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: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.

A registration statement relating to the sale of these securities was filed with the Securities and Exchange Commission and was declared effective on April 20, 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 UiPath

UiPath has a vision to deliver the Fully Automated Enterprise™, one where companies use automation to unlock their greatest potential. UiPath offers an end-to-end platform for automation, combining the leading Robotic Process Automation (RPA) solution with a full suite of capabilities that enable every organization to rapidly scale digital business operations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210423005533/en/

FAQ

What was the price per share in UiPath's IPO?

The price per share in UiPath's IPO was $56.00.

How many shares were offered in UiPath's IPO?

A total of 27,474,393 shares were offered in UiPath's IPO.

Who were the lead underwriters for UiPath's IPO?

Morgan Stanley and J.P. Morgan acted as lead underwriters for the IPO.

Did UiPath receive proceeds from the selling stockholders in the IPO?

No, UiPath did not receive any proceeds from the shares sold by the selling stockholders.

When was the registration statement for UiPath's IPO declared effective?

The registration statement for UiPath's IPO was declared effective on April 20, 2021.