Medallia IPO prices well above expectations, shares offered boosted by 7.5% [MarketWatch]
Medallia, Inc. (MDLA)
Last medallia, inc. earnings: 3/12 04:06 pm
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Source: MarketWatch
Medallia IPO prices well above expectations, shares offered boosted by 7.5% Medallia Inc. MDLA, +0.00% raised by 7.5% the number of shares it was offering in its initial public offering, which priced well above expectations. The San Francisco-based experience management enterprise software company said the IPO priced at $21 a share, above the previously expected range of $16 to $18 . Medallia also increased its share offering by 7.5% to 14,325,000 shares from 13,250,000, to raise about $300.8 million. Selling shareholders are offering an additional 1,175,000 shares in the offering, in line with previous plans. The stock is set to start trading Friday on the NYSE under the ticker symbol "MDLA." The company said earlier this month that it will have 121,603,976 shares outstanding after the IPO, which would give it a market valuation of about $2.55 billion. Medallia is going public at a time the Renaissance IPO ETF IPO, +0.45% has gained 8.5% over the past three months and the S&P 5
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