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Pinterest Raises $1.4B After Pricing IPO Above Range

Law360 (April 17, 2019, 8:27 PM EDT) -- Venture-backed technology “unicorn” Pinterest raised $1.4 billion in an initial public offering Wednesday that priced above its range, marking the second-largest IPO of 2019, steered by Cleary Gottlieb and underwriter counsel Skadden.

Pinterest, represented by Cleary Gottlieb Steen & Hamilton LLP, sold 75 million shares priced at $19 each, beating its projected range of $15 to $17 and raising $1.425 billion in fresh capital. Shares of Pinterest are set to begin trading Thursday on the New York Stock Exchange under the symbol PINS.

San Francisco-based Pinterest marks the second major unicorn — a privately held company valued at more than $1 billion —...

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