Pattern IPO To Debut On Nasdaq Today: E-Commerce Accelerator Raises $300 Million At $2.5 Billion Valuation
Synopsis
The Utah-based e-commerce accelerator raised $300 million through the IPO, with 21.4 million shares on offer.
Pattern Group Inc. (PTRN) and its existing shareholders raised $300 million through an initial public offering (IPO) of 21.4 million shares ahead of the company’s debut on the Nasdaq on Friday.
Pattern priced its equity shares at $14 a piece, after guiding for a price range of $13 to $15 in the prospectus filed with the U.S. Securities and Exchange Commission (SEC). After the $300 million fundraise through the IPO, Pattern’s valuation stands at $2.5 billion.
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