Snowflake Balloons On Debut After $3.36B IPO Beats Target

Law360 (September 16, 2020, 2:18 PM EDT) -- Database software provider Snowflake soared in its market debut Wednesday, with shares opening at $245 each after a $3.36 billion initial public offering steered by Cooley and underwriters' counsel Goodwin Procter.

Snowflake Inc.'s shares opened at $245 on the New York Stock Exchange, where they're trading under the symbol SNOW. In its IPO, the California-based company sold 28 million shares for $120 apiece, above the $100 to $110 target it set earlier this week and well above its original targeted range of $75 to $85.

Snowflake also inked deals to sell $500 million worth of common stock at the IPO price...

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