Davis Polk-Led Cybersecurity Startup Soars After $612M IPO
Law360 (June 12, 2019, 6:14 PM EDT) -- Venture capital-backed cybersecurity startup CrowdStrike Holdings Inc., represented by Davis Polk & Wardwell LLP, saw its shares skyrocket in its trading debut Wednesday, following the company's $612 million initial public offering that priced above its forecast range.
Shares of CrowdStrike rose $24, or 70.6%, to close at $58 apiece in its first day of trading on the Nasdaq exchange. The scorching debut came after CrowdStrike sold 18 million shares late Tuesday at $34 each.
CrowdStrike's IPO price surpassed its projected range of $28 to $30 per share, which was raised last week from its original estimate of $19 to $23. Companies sometimes...
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