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 story : Procore Technologies sets IPO terms, to be valued at up to .3 billion #FinanceUSA #StockMarketNEWS Procore Technologies Inc. has set terms of its initial public offering, which would value the California-based

@stockMarketNEWS Mon 10 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Procore Technologies sets IPO terms, to be valued at up to .3 billion #FinanceUSA #StockMarketNEWS
Procore Technologies Inc. has set terms of its initial public offering, which would value the California-based construction management software company up to about .3 billion. The company is looking to raise up to 5.6 million, as it plans to offer 9.47 million shares in the IPO, which is expected to price between and a share. The stock is expected to list on the NYSE under the ticker symbol "PCOR." Goldman Sachs, J.P. Morgan, Barclays are Jefferies are the lead underwriters. The company plans to use the proceeds from the IPO to increase capitalization and financial flexibility, and create a public market for its common stock. Procore recorded a net loss of .2 million on revenue of 8.6 million in 2020, after a loss of .1 million on revenue of 6.0 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has dropped 25.8% over the past three months while the S&P 500 has gained 8.3%.


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