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Dec. 6, 2021, 10:58 a.m. EST

Samsara sets IPO terms, which could value the Internet-of-Things company at over $11 billion

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By Tomi Kilgore

Samsara Inc. /zigman2/quotes/231563743/composite IOT -0.75% has set terms for its initial public offering, in which the California-based Internet-of-Things data company is looking to raise up to $805.0 million. The company is offering 35.0 million Class A shares in the IPO, which is expected to price between $20 and $23 a share. With a total of about 500.35 million Class A and Class B shares expected to be outstanding after the IPO, the expected pricing would value the company at up to about $11.5 billion. The stock is expected to list on the NYSE under the ticker symbol "IOT." Morgan Stanley, Goldman Sachs, J.P. Morgan and Allen & Co. are the lead underwriters. The company recorded a net loss of $102.3 million on revenue of $302.6 million during the nine months ended Oct. 30, compared with a loss of $174.0 million on revenue of $174.0 million in the same period a year ago. The company is looking to go public during a rough market environment for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -2.76% has tumbled 18.0% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.31% has gained 1.1%.

/zigman2/quotes/231563743/composite
US : U.S.: NYSE
$ 10.58
-0.08 -0.75%
Volume: 383,006
May 20, 2022 12:32p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.42 billion
Rev. per Employee
$265,065
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 29.56
-0.84 -2.76%
Volume: 65,118
May 20, 2022 12:23p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,849.58
-51.21 -1.31%
Volume: 1.14B
May 20, 2022 12:33p
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