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Investor Alert

Oct. 21, 2021, 8:49 a.m. EDT

P10 to go public after IPO prices below the expected range, valuing company at $1.4 billion

P10 Inc. (NYS:PX) is all set to go public Thursday, as the Texas-based alternative asset management company's initial public offering priced overnight at $12 a share, below the expected range of between $14 and $16 a share. The company sold 11.5 million Class A shares in the IPO to raise $138.0 million, while selling shareholders 8.5 million shares to raise $102.0 million. With a total of 117.16 million Class A and Class B shares outstanding expected after the IPO, the pricing values the company at about $1.41 billion. The stock is expected to start trading on the NYSE some time after the open under the ticker symbol "PX." The company is going public at a time that the Renaissance IPO ETF (PSE:IPO) has rallied 7.8% over the past three months while the S&P 500 (S&P:SPX) has gained 4.1%.

Link to MarketWatch's Slice.