ipo price range
Artificial-Intelligence Software Company C3.ai Raised Its Expected IPO Price Range
C3.ai is expected to go public on Wednesday. The company will have about 109 million fully diluted shares outstanding after the offering and two concurrent private placements: Microsoft (MSFT) has agreed to buy $50 million of stock at the IPO price, while Spring Creek Capital, an affiliate of Koch Industries, has pledged to invest $100 million on the same basis. At the top of the range, the company would be worth about $4.1 billion. The company will trade on the New York Stock Exchange under the symbol AI. The underwriting group for the deal is led by Morgan Stanley, J.P. Morgan and BofA Securities.