Instacart Prices IPO of 22M Shares at $30/Share, Including 7.9M Stock by Selling Shareholders
Portfolio Pulse from Benzinga Newsdesk
Instacart has priced its initial public offering (IPO) at $30 per share, with 22 million shares being offered. Of these, 14.1 million are being sold by Instacart and 7.9 million by certain selling stockholders. The company has also granted underwriters a 30-day option to purchase up to an additional 3.3 million shares. The shares are expected to begin trading on the Nasdaq Global Select Market on September 19, 2023, under the symbol 'CART'.
September 19, 2023 | 8:29 am
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Instacart's IPO pricing at $30 per share could attract investors, potentially leading to a positive short-term impact on the stock's performance.
The pricing of an IPO can significantly impact a stock's short-term performance. If investors perceive the price as fair or undervalued, it can lead to increased demand and a potential rise in the stock price. However, this is also dependent on broader market conditions.
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