Cloudflare Beats Range With $525M Wilson Sonsini-Led IPO

Law360 (September 13, 2019, 3:25 PM EDT) -- Website-security platform Cloudflare hit the public market Friday after raising $525 million in an initial public offering led by Wilson Sonsini Goodrich & Rosati PC, over $100 million more than the company could have raised at the top of a previously projected price range.

Cloudflare Inc. said in its late Thursday statement that it sold 35 million Class A common shares for $15 each, topping a previously set $10 to $12 per-share price range for the IPO. 

The company’s shares began trading on the New York Stock Exchange Friday at $18 per share under the symbol NET.

The offering is expected...

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