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Snowflake generates approximately $ 4 billion in revenue for IPOs

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Snowflake Inc. has been the busiest week for initial public offerings for over a year.

Snowflake SNOW,
+ 2.05%
On Tuesday night, its IPO was valued at $ 120, which means it will raise at least $ 3.86 billion, and more than $ 4 billion. The company will sell 28 million shares, Berkshire Hathaway Inc., to raise $ 3.36 billion. BRK.A,

+ 2.04%
Simultaneously agreed to buy $ 250 million worth of shares in an IPO. The Underwriters, led by Goldman Sachs and Morgan Stanley, have access to an additional 4.2 million shares, raising a total of about $ 4.4 billion.

Given the increase in prices throughout the IPO process, the demand for those additional shares remains. After Originally filed for an IPO a month ago, Snowflake An expected price range of $ 75 to $ 85 has been announced A share of last week. Monday, San Matteo Software Company of California That range increased dramatically Stocks range from $ 100 to $ 110, higher than that target Tuesday night. Renaissance Capital reported this week that the IPO will be the largest software ever recorded based on a higher price range.

See also: Five Things to Know About the Snowflake IPO

Snowflake builds the database software used in the cloud, offering the essential technical infrastructure in a new way. The offer has created enough excitement to attract investment from Berkshire, with legendary chief executive Warren Buffett avoiding young tech companies and IPOs for decades. In addition to the $ 250 million investment, Berkshire is buying more than 4 million shares of IPO price from former Snowflake CEO Robert Muglia.

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At the IPO price, Snowflake is valued at $ 33.3 billion. Shares are expected to start trading on the New York Stock Exchange on Wednesday morning.

Snowflake is one of a dozen companies expected to go public this week, making it the busiest week for IPO operations since Uber Technologies Inc.
Published in May 2019 under the Renaissance. Jeffrog Ltd. Frog,
Another software company set the price for the IPO on Tuesday.

More: The IPO market is from May 2019 to the busiest week

The other two software companies are Unity Software Inc. U,
+ 0.46%
And Sumo Logic SUMO,
IPOs will be priced later this week. Packaging company Pactive Evergreen PTVE,

American Well Corporation AMWL, a telehealth company;
Known as Amwell.

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