Grocery-delivery app Instacart raised the proposed price range for its planned initial public offering on Friday to $28 to $30 from $26 to $28 previously....
Grocery-delivery app Instacart CART, raised the proposed price range for its planned initial public offering on Friday to $28 to $30 from $26 to $28 previously. The move was expected after the Wall Street Journal reported it would do so in the wake of Arm Holdings’ ARM, +24.
69% successful IPO on Thursday , citing people familiar with the matter. Instacart is planning to offer 22 million shares to raise $660 million at the top of that range at a valuation of $8.3 billion. As part of the deal, PepsiCo PEP, +0.86% has agreed to purchase $175 million of Instacart’s Series A redeemable convertible preferred stock.
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