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Underwriters exercise option in Snap IPO

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7 Mar, 2017 | 17:41

Underwriters exercise option in Snap IPO

Author Urooj Janjua
Theme Technology, Media & Telecom

The underwriters of Snap Inc.'s offering exercised in full their 在 IQ Option 交易黄金及白银在 IQ Option 交易黄金及白银在 IQ Option 交易黄金及白银 option to purchase an additional 30,000,000 shares of class A common stock from Snap and some of the selling stockholders at $17 per share, less the underwriting discount.

Snap, the parent of ephemeral message service Snapchat, on March 7 closed its IPO at $17 per share. The total offering consisted of 230,000,000 class A shares of Snap, following the exercise in full by the underwriters of their overallotment option.

The company and the selling stockholders raised 在 IQ Option 交易黄金及白银 gross proceeds of $3.91 billion from the offering.

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