IPOS - Cloud infrastructure platform HashiCorp prices IPO at $80 much above the estimated range

HashiCorp (NASDAQ:HCP) has priced its initial public offering of 15.3M shares of its Class A common stock at $80.00 per share, for gross proceeds of $1.22B. IPO was estimated to price between $68 and $72 per share. Trading commences today on Nasdaq . The offering is expected to close on December 13. Underwriters' over-allotment is an additional 2.295M shares of Class A common stocK. The company reported a net loss of $62.4M on revenue of $224.2M during the nine-month period ended Oct. 31 vs. a loss of $76.6M on revenue of $150M year ago. Also read: What Investors Should Know About HCP Stock

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Cloud infrastructure platform, HashiCorp prices IPO at $80, much above the estimated range