Instacart Prices IPO at $30 Per Share

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Instacart&comma; the nation&&num;8217&semi;s leading grocery delivery service&comma; announced the pricing of its long-awaited initial public offering at &dollar;30 per share&period;<&sol;p>&NewLine;<p>The shares are expected to begin trading on the Nasdaq Global Select Market on Tuesday <span class&equals;"xn-chron">September 19&comma; 2023<&sol;span>&comma; under the symbol &&num;8220&semi;CART&period;&&num;8221&semi;<&sol;p>&NewLine;<p>It is one of a few companies to go public in the last two years in the Bay Area&period;<&sol;p>&NewLine;<p>The company is offering a total of 22&comma;000&comma;000 shares of its common stock&comma; 14&comma;100&comma;000 of which are being sold by Instacart and 7&comma;900&comma;000 of which are being sold by certain selling stockholders&comma; at a public offering price of <span class&equals;"xn-money">&dollar;30&period;00<&sol;span> per share&period; Instacart will not receive any proceeds from any sale of shares by the selling stockholders&period; In addition&comma; Instacart has granted the underwriters a 30-day option to purchase up to an additional 3&comma;300&comma;000 shares of its common stock at the initial public offering price&comma; less underwriting discounts and commissions&period;<&sol;p>&NewLine;<p>Goldman Sachs &amp&semi; Co&period; LLC and J&period;P&period; Morgan are acting as lead book-running managers for the offering&period; BofA Securities&comma; Barclays&comma; and Citigroup are acting as additional book-running managers&comma; and Baird&comma; JMP Securities &lpar;A Citizens Company&rpar;&comma; LionTree&comma; Oppenheimer &amp&semi; Co&period;&comma; <span class&equals;"xn-person">Piper Sandler<&sol;span>&comma; SoFi&comma; Stifel&comma; Wedbush Securities&comma; <span class&equals;"xn-person">Blaylock Van<&sol;span>&comma; LLC&comma; <span class&equals;"xn-person">Drexel Hamilton<&sol;span>&comma; Loop Capital Markets&comma; R&period; Seelaus &amp&semi; Co&period;&comma; LLC&comma; Ramirez &amp&semi; Co&period;&comma; Inc&period;&comma; Stern&comma; and Tigress Financial Partners are acting as co-managers for the offering&period;<&sol;p>&NewLine;

Editor

ALM Ventures Debuts $100 Million Fund

MOUNTAIN VIEW -- ALM Ventures has announced the launch of ALM Ventures Fund I, a…

15 hours

Brainworks Ventures Launches $50 Million AI-Native Fund

SAN FRANCISCO -- Brainworks Ventures, an AI-native venture capital fund led by DARPA alumnus Dr.…

15 hours

OpenAI Hires New Chief Revenue Officer

OpenAI is hiring Slack CEO Denise Dresser as the company's Chief Revenue Officer, overseeing global…

15 hours

Teen Charged With Shooting at Westfield Valley Fair Mall

The Santa Clara County District Attorney’s Office has charged a San Jose 17-year-old with attempted…

15 hours

Lemurian Labs Secures $28 Million Series A

SANTA CLARA — Lemurian Labs has secured $28 million in an oversubscribed Series A round,…

4 days

Ripple Foods Chomps Down on $17 Million in New Funding

EMERYVILLE -- Ripple Foods, a producer of high-protein, allergen-free plant-based milks, has landed $17 million in…

4 days