Breaking News

Domo prices IPO at $21 a share, raising $193 million

Domo Inc. introduced late Thursday it will price its preliminary public offering at $21 a percentage, near the top of its range of $19 to $22 a percentage. The Utah-based company said it plans to offer nine.2 million shares, elevating about $193 million. The cloud-based data-analytics tool company is scheduled to start out trading at the Nasdaq on Friday beneath the ticker "DOMO." Morgan Stanley, Allen & Co., Credit Suisse Securities and UBS are appearing because the joint book-runners. The offering has raised considerations from some investors because of its declining income, massive deficit and loss of shareholder balloting rights. Its valuation of around $510 million is ready 1 / 4 of what it was after its ultimate investment round, greater than a yr in the past.