IPOS - Restaurant payment software firm Toast files for U.S. IPO

Toast intends to raise capital through an IPO of Class A common stock to be listed on NYSE under the symbol, "TOST". Toast is a cloud-based, end-to-end technology platform purpose-built for the entire restaurant community provides solutions including integrated payment processing, restaurant-grade hardware, and a broad ecosystem of third-party partners. A Bloomberg report quotes that the company plans to raise $100M seeking a valuation of $20B+ in its listing. Offer proceeds to be used for increasing capitalization, maximization of financial flexibility. Post offering, the number of shares of Class A common stock and Class B common stock that will be outstanding after this offering is based on no shares of Class A common stock and 95.5M shares of Class B common stock outstanding as of June 30, 2021. As of June 30, 2021, the company reported $494M in ARR indicating a 118% growth Y/Y; it boasts of operations in 48K locations and has a

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Restaurant payment software firm, Toast files for U.S. IPO