DevOps
GitLab Nasdaq trading begins on the Global Select Market
Friday, October 15, 2021
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Richard Harris |
GitLab Nasdaq trading on the Global Select Market begins on October 14, 2021. The DevOps platform (GTLB) announced a public offering of 10,400,000 shares of Class A common stock at $77.00 per share. Some of the lead book-running managers include Goldman Sachs & Co. LLC and J.P. Morgan.
GitLab Inc., the provider of The DevOps Platform, has announced the pricing of its initial public offering of 10,400,000 shares of its Class A common stock at a public offering price of $77.00 per share. The offering consists of 8,420,000 shares of Class A common stock to be sold by GitLab Inc. and 1,980,000 shares of Class A common stock to be sold by an existing stockholder affiliated with Sytse "Sid" Sijbrandij, Gitlab Inc.'s Co-founder, Chief Executive Officer, and Board of Directors Chair (the "Selling Stockholder"). Gitlab Inc. will not receive any proceeds from the sale of shares of common stock by the Selling Stockholder.
GitLab Nasdaq trading on the Global Select Market
The shares are expected to begin trading on the Nasdaq Global Select Market on October 14, 2021, under the ticker symbol "GTLB." The offering is expected to close on October 18, 2021, subject to the satisfaction of customary closing conditions.
In addition, GitLab Inc. and the Selling Stockholder have granted the underwriters a 30-day option to purchase up to an additional 1,040,000 shares of Class A common stock at the initial public offering price, less underwriting discounts, and commissions.
Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering. UBS Investment Bank, RBC Capital Markets, Truist Securities, and Piper Sandler are acting as joint book-running managers for the offering. Cowen, KeyBanc Capital Markets, and William Blair are acting as co-managers for the offering.
"We are proud to take GitLab Inc. public on the Nasdaq Global Market. In a world where software defines the speed of innovation, GitLab, the DevOps Platform, is helping our customers deliver better and safer software faster. With every company needing to become a software company, we are excited about the opportunity for GitLab in this market. We are grateful to achieve this milestone today due to the support and contributions from our team members, customers, partners, and the wider community," said Sid Sijbrandij, CEO and co-founder of GitLab Inc.
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