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Sept. 8, 2020, 5:07 p.m. EDT

Snowflake looks to raise up to $2.7 billion in IPO

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By Wallace Witkowski

Snowflake Inc. /zigman2/quotes/220991541/composite SNOW +3.10% plans to raise up to $2.74 billion in its initial public offering along with orders from Berkshire Hathaway Inc. /zigman2/quotes/208872451/composite BRK.A +0.46% /zigman2/quotes/200060694/composite BRK.B +0.42% and Salesforce.com Inc. /zigman2/quotes/200515854/composite CRM -0.71% , according to a filing with the Securities and Exchange Commission late Tuesday.

The cloud-based data management company said it plans to offer 28 million shares between $75 and $85 apiece, with underwriters getting an option for an additional 4.2 million to cover overallotments. Snowflake said Berkshire Hathaway and Salesforce both plan to buy $250 million in shares, or 3.13 million shares at $80 apiece. Additionally, Berkshire Hathaway will buy about 4 million shares from an unnamed stockholder at the initial IPO price, Snowflake said.

Snowflake filed for its IPO in late August . The company plans to list under the ticker “SNOW” on the New York Stock Exchange. Earlier in the year, the company was valued at around $12 billion after its most recent round of funding in February, according to Crunchbase.

/zigman2/quotes/220991541/composite
US : U.S.: NYSE
$ 206.04
+6.20 +3.10%
Volume: 5.98M
May 7, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$57.69 billion
Rev. per Employee
$237,294
loading...
/zigman2/quotes/208872451/composite
US : U.S.: NYSE
$ 437,131
+2,011 +0.46%
Volume: 2,678
May 7, 2021 4:00p
P/E Ratio
6.63
Dividend Yield
N/A
Market Cap
$661.92 billion
Rev. per Employee
$681,972
loading...
/zigman2/quotes/200060694/composite
US : U.S.: NYSE
$ 290.93
+1.22 +0.42%
Volume: 6.10M
May 7, 2021 4:03p
P/E Ratio
6.62
Dividend Yield
N/A
Market Cap
$661.92 billion
Rev. per Employee
$681,972
loading...
/zigman2/quotes/200515854/composite
US : U.S.: NYSE
$ 216.50
-1.55 -0.71%
Volume: 5.77M
May 7, 2021 4:00p
P/E Ratio
49.30
Dividend Yield
N/A
Market Cap
$201.09 billion
Rev. per Employee
$375,437
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