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Rubrik Prices IPO at $32 on NYSE, Valued at $6.6 Billion

Apr 24, 2024, 10:35 PM

Rubrik, a Microsoft-backed data management software company, has priced its initial public offering (IPO) at $32 per share, which is above the anticipated range of $28-$31. The IPO, which is set to trade on the NYSE this Thursday, has been 20 times oversubscribed. Rubrik's IPO aims to raise $752 million and will offer 23.5 million shares, resulting in a market capitalization of approximately $5.6 billion and a fully diluted valuation of $6.6 billion. This event is significant as it represents one of the few software IPOs since 2021, and it is closely watched by the industry due to its potential implications for future software IPOs.