Shares of NCino shot up 195% during its first trading day, closing at $91.59 apiece to value the company at around $8.2 billion.
The banking software company’s stock began trading Tuesday at $71 on the Nasdaq, after shares in its initial public offering priced at $31 each on Monday.
North Carolina-based NCino raised about $250 million in an upsized IPO of 8.1 million shares. The company had initially planned to offer 7.6 million shares at $22 to $24 each, but later revised that price range to $28 to $29.
Backed by investors including Insight Partners and Salesforce Ventures, the company reported revenue of $138.2 million for the fiscal year through January 31, a year-over-year increase of more than 50%. Its net loss expanded about 24% YoY to $27.7 million for the same period.
Source: Pitchbook
Can’t stop reading? Read more
IK Partners takes majority stake in HSL Compliance to fuel growth
IK Partners, through its IK Small Cap III Fund, agreed to acquire a majority stake in UK-based...
HIG Capital acquires strategic stake in German machine tool manufacturer HELLER Group
HIG Capital signed a definitive agreement to acquire a strategic stake in Germany-based machine...
Alchemy Partners closes €1bn Special Opportunities Fund V
Alchemy Partners closed its latest fund, Alchemy Special Opportunities Fund V, securing €1bn in...