UNITED STATES– On March 30, the ed-tech platform Coursera Inc COUR.N said it priced its IPO (Initial Public Offering) in New York at $33 per piece, the higher end of its target range that offers the firm an estimate of about $4.30 billion.
Coursera declared it is expecting and most probably raised around $519 million funds in the IPO in the US.
It is a California-based firm launched in 2012 by two Stanford Computer science professors- Andrew Ng and Daphne Koller. It came into existence with a motive to offer universal access to world-class learning. It is currently one of the nuggets online learning platforms all over the globe, with 77 million registered learners, and more. It partners with over 200 leading university and industry partners to offer a broad catalog of courses and degrees in different disciplines. It also includes guided projects, specializations, certificates, and bachelor’s and master’s degrees. More than 6,00 institutions have used Coursera to raise your skillset and include high-demand fields such as data science, technology, and business.
It saw a high surge, especially during the COVID-19 pandemic.
Coursera’s IPO rose 59% to $293.5 million for the fiscal year Dec 31, 2020, the company had started in March while filing for the IPO. The current IPO includes about 14.7 million shares of its common stock. Coursera said in a statement that adding its selling shareholders were offering around 1.1 million shares.
The company’s shares will be listed on the New York’s Stock Exchange under the ticker symbol “COUR”, stated in a statement.
With the broad content and product list, it will surely have a better growth expansion in the near future.
The lead underwriters for the offering are Morgan Stanley and Goldman Sachs, while Citigroup and UBS Investment Bank are acting as the additional bookrunners.
Whereas, KeyBanc Capital Markets, Raymond James, Stifel, Truist Securities, William Blair, D.A. Davidson & Co, Loop Capital Markets, Needham & Company, and Telsey Advisory Group are acting as co-managers for the current offering.
It has granted the underwriters a 30-day option to buy up to 2,359,500 more shares of common stock at the initial price to the public, less underwriting discounts and commissions.
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