Datto sets its IPO valuation at around $4B
American cybersecurity and data backup company Datto set the initial IPO price range on Friday, indicating that its valuation could be approximately $4 billion.
The company filed to go public a few weeks ago, and is now targeting a $24 to $27 per share price range. With total shares number outstanding after IPO and underwriters’ allotment at 160,848,740, the company could be valued at $4.34 billion.
As a part of its expected listing on the New York Stock Exchange, Datto has disclosed financial data among which is more than $590 million in debt that it has had since it was bought by Vista Equity in 2017.
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