IPOS - Instacart Prices IPO At $30 Per Share Valuing The Online Grocery Platform At Nearly $10B | Benzinga
Instacart is set to make its public debut on Tuesday. The grocery delivery platform company priced its initial public offering at $30 per share on Monday, which is at the top end of the expected $28-$30 range.
What Happened: The company said in a statement that the IPO comprises 22 million shares of common stock, out of which 14.1 million are being sold by Instacart and 7.9 million by certain selling stockholders.
The shares are expected to start trading on the Nasdaq under the symbol "CART" on Tuesday. The offering is expected to close on Sept. 21, 2023.
Why It Matters: Bloomberg previously reported citing people familiar with the matter, that Instacart is planning to sell shares for at least $30 per share. The report indicated the ...