HashiCorp IPO: How to buy HCP stock as its price range is revealed?

3 min read | December 01, 2021 01:22 AM AEDT | By Raza Naqvi

HashiCorp IPO: How to buy HCP stock as its price range is revealed? — Image source: © Prykhodov | Megapixl.com

All you need to know about HashiCorp

HashiCorp has kept the price range of the shares between US$ 68 to US$ 72 and it wants to offer 15.3 million shares through the IPO. According to the prospectus submitted with the US Securities and Exchange Commission, HashiCorp aims to go public on the Nasdaq Stock Market.

HashiCorp IPO details

The underwriting responsibility for the offering is on Goldman Sachs, JP Morgan, and Morgan Stanley. If the IPO happens, HashiCorp will trade under the stock symbol HCP.

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HashiCorp is involved in selling software used for managing the cloud infrastructure across the big public clouds operated by Amazon, Microsoft, and Google. The company's innovative technology allows the users to manage their networking, applications, and security in centralized locations.

As of now, there's no announcement on how to get the pre-IPO stock of HashiCorp. If the company doesn't give an option of buying the shares before the IPO, then the potential investors will have to wait for the company to start trading in the stock market to buy the HCP stock.

Bottom line

HashiCorp has opted to go public as it wants to obtain additional capital. In addition, the cloud software provider wants to use the gross proceeds for corporate purposes.

For the year ended January 31, 2021, HashiCorp’s total revenue was US$ 211.9 million, representing a significant increase from US$ 121.3 million in 2020.

The gross profit was US$ 170.8 million in 2021 in comparison to US$ 97.3 million last year. Meanwhile, the net loss increased to 83.5 million for the period ended January 31 compared to US$ 52.8 million in 2020.

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