Udemy Raises $421M Via IPO Priced At Top End Of Estimated Range

Online learning and teaching marketplace Udemy Inc (NASDAQ:UDMY) has fixed the initial public offering price at $29 per share, at the top of the previously expected $27-$29 per share range, resulting in $420.5 million proceeds.
The company is offering 14.5 million shares of its common stock, plus up to an additional 2 million shares that the underwriters have a 30-day option to purchase.
The company expects the shares to begin trading on the Nasdaq Global Select Market on October 29, 2021, under the ticker symbol "UDMY."
The offering is expected to close on November 2, 2021, subject to customary closing conditions.
Udemy has a market value of nearly $4 billion based on the 137.42 million outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.
Morgan Stanley, J.P. Morgan, Citigroup, BofA Securities, Jefferies, and Truist Securities are acting as book-running managers for the offering.