(Bloomberg) -- Monday.com Ltd., the workplace management software maker, priced its U.S. initial public offering above a marketed range at $155 a share, according to data compiled by Bloomberg.
The Tel Aviv-based company had planned to sell 3.7 million shares for $125 to $140 each on Wednesday.
At $155 a share, Monday.com is raising $574 million in the IPO. The company would have a market value of about $6.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. Including stock options, the company’s diluted value would be more than $7.8 billion.
Salesforce.com Inc.’s venture arm and Zoom Video Communications Inc. has each agreed to purchase $75 million the company’s shares in a private placement at IPO price, according to Monday.com’s filings.
Venture capital firms Insight Partners and Stripes, as well as Sonnipe Ltd., are among the biggest shareholders of Monday.com.
The offering is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. Monday.com’s shares are expected to start trading Thursday on the Nasdaq Global Select Market under the symbol MNDY.
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