Instacart on Monday submitted an updated filing for its upcoming initial public offering, saying it is looking to raise up to $616 million of fresh capital alongside existing shareholders at a valuation of as much as $9.3 billion.
In the filing, Instacart said it is setting an offer price of between $26 and $28 for its IPO. Instacart said it would issue 22 million shares in total, comprising 14.1 million of newly issued shares from the company and 7.9 million shares from selling stockholders. At the higher end of that pricing scale, Instacart will be looking to net roughly $616 million in proceeds.
Instacart looks set to attract a valuation of between $8.6 billion and $9.3 billion. On a fully diluted basis, its share count will total 331 million. That’s including restricted stock units, stock options and warrants.
Source: CNBC
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