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Instacart Prices IPO at $30 Per Share

SAN FRANCISCO — Instacart, the nation’s leading grocery delivery service, announced the pricing of its long-awaited initial public offering at $30 per share.

The shares are expected to begin trading on the Nasdaq Global Select Market on Tuesday September 19, 2023, under the symbol “CART.”

It is one of a few companies to go public in the last two years in the Bay Area.

The company is offering a total of 22,000,000 shares of its common stock, 14,100,000 of which are being sold by Instacart and 7,900,000 of which are being sold by certain selling stockholders, at a public offering price of $30.00 per share. Instacart will not receive any proceeds from any sale of shares by the selling stockholders. In addition, Instacart has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the offering. BofA Securities, Barclays, and Citigroup are acting as additional book-running managers, and Baird, JMP Securities (A Citizens Company), LionTree, Oppenheimer & Co., Piper Sandler, SoFi, Stifel, Wedbush Securities, Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Stern, and Tigress Financial Partners are acting as co-managers for the offering.