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Summary
- The company was founded in 2013 and released its first endpoint security solution in 2015.
- SentinelOne (NYSE:S) raised the price range for IPO to US$31-US$ 32 as per an amendment filed with SEC.
- The total shares available for the public offer are 32 million Class A common stock.
Cybersecurity has become crucial due to the increased digitalization of businesses and ransomware attacks. SentinelOne, Inc. (S) has applied for an NYSE listing with the symbol ‘S’. Its expected IPO date is June 30, 2021.
The company plans to offer 32,000,000 shares of Class A common stock. On Monday, it filed an amendment with the SEC to increase the price range to US$31-US$32 per share.
Its earlier price range was US$26-US$29.
The company was founded in 2013 and released its first endpoint security solution in 2015.
How to buy SentinelOne (S) stock
It had initially planned to raise US$928 million, but after the new price range, it will net at least US$1.02 billion. As a result, its maximum aggregate offering price has now become US$1,177,600,000.
SentinelOne has kept additional 4,800,000 shares for underwriters, which in case of over-allotment, they will have the right to exercise the purchase option. The representative underwriters for this IPO are Morgan Stanley & Co. Goldman Sachs & Co., BofA Securities, Inc., Barclays Capital Inc., Wells Fargo Securities, UBS Securities LLC, Jefferies LLC, Deutsche Bank Securities Inc., Piper Sandler & Co., BTIG, Cowen and Company, Needham & Company, Loop Capital Markets, Drexel Hamilton, and R. Seelaus & Co.
Tiger Global, Insight Venture Partners, Third Point Ventures, and Sequoia Capital would bid under private placement for an aggregate purchase price of approximately US$50.0 million in line with the initial public offering price.
After this offer, the total outstanding shares would be 33,587,295 and 38,387,295 shares in case of underwriter execute their option in full. SentinelOne Inc. could be valued at US$8.11 billion after the IPO, as per Reuters.
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Source: Pixabay
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Its revenue for the quarter ended March 31, 2021, was US$37.4 million against US$17.96 million in the March quarter of 2020, reflecting approximately 108% increase.
Its revenue for the fiscal year 2021 was US$93.1 million and for fiscal 2020 was US$46.5 million. Its net loss was US$117.6 million for FY2021 compared to US$76.6 million in FY2020.
The company’s net loss per share attributable to common stockholders, basic and diluted, was US$1.37 for the quarter ended March 31, compared to US$0.78 in the same period in 2020.
SentinelOne works in the cybersecurity space, where it uses data and artificial intelligence (AI) to address security threats or cyberattacks. The company’s AI-powered extended detection and response, or XDR, platform has been developed for autonomous detection to fight a machine with a machine. It works on both laptops and mobile phones.
Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
