San Francisco-based Cloudflare announced the pricing of its initial public offering of its Class A common stock at a price to the public of $15 per share.
Cloudflare is offering 35,000,000 shares of its Class A common stock, plus up to an additional 5,250,000 shares that the underwriters have the option to purchase at the initial public offering price less underwriting discounts. The shares are expected to begin trading on the New York Stock Exchange on September 13, 2019 under the ticker symbol “NET”.
The sale is expected to raise $525 million for the company.
