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Sept. 12, 2019, 7:24 p.m. EDT

Cloudflare prices IPO shares at $15, higher than elevated range

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By Jeremy C. Owens

NET

Cloudflare Inc. /zigman2/quotes/214109260/composite NET +3.95% priced shares in its initial public offering at $15 Thursday evening, higher than a target range that had already been raised. Cloudflare, a cloud-based network-security platform, initially aimed to sell shares at $10 to $12, but raised that target to $12 to $14 earlier this week. At the $15 share price, Cloudflare will raise at least $525 million at an initial market valuation of $4.4 billion. Underwriters -- led by Goldman Sachs, Morgan Stanley and JP Morgan -- have access to an additional 5.25 million shares that could push those totals higher. Cloudflare shares are expected to begin trading Friday on the New York Stock Exchange under the ticker symbol NET.

Read the full story:
Cloudflare IPO: 5 things to know about the cloud-network platform

/zigman2/quotes/214109260/composite
US : U.S.: NYSE
$ 40.04
+1.52 +3.95%
Volume: 2.15M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.78 billion
Rev. per Employee
N/A
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