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CrowdStrike Almost Doubles in Debut as Tech IPOs Rush Ahead
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CrowdStrike Raises $612 Million as IPO Tech Rush Continues
CrowdStrike sold 18 million shares on Tuesday at $34 each, above its already elevated target range, the company said in a statement confirming an earlier report by Bloomberg. The Sunnyvale, California-based company had marketed the shares for $28 to $30, a target range it had earlier raised from $19 to $23. The offering values the company at more than $6.6 billion based on the shares outstanding as listed in its filings with the U.S. Securities and Exchange Commission.
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CrowdStrike Almost Doubles in Debut as Tech IPOs Rush Ahead
Shares opened at $63.50 in New York and rose as much as 97% from their IPO price to $67. CrowdStrike sold 18 million shares on Tuesday at $34 each, above its already elevated target range, the company said in a statement confirming an earlier report by Bloomberg. Founded in 2011 by former McAfee Inc. executives, CrowdStrike makes software to protect clients from cyberattacks, including predicting and detecting potential hacks.
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