The
company sold 35 million shares priced at $35 per share. It had
earlier planned to sell 32 million shares priced between $31 and
$32 per share.
SentinelOne said it also sold around 1.43 million shares of its
Class A common stock in a private placement concurrent to the
public offering to certain existing shareholders at the IPO
price.
Demand for cybersecurity software has risen since last year as
organizations across the globe moved to a work-from-home
environment due to the COVID-19 pandemic, driving the need for
more cloud technology software along with appropriate security
measures.
SentinelOne protects laptops and mobile phones from security
breaches by using artificial intelligence technology to identify
unusual behavior in enterprise networks.
The Mountain View, California-based company raised $267 million
from venture capital firms Tiger Global and Sequoia Capital at a
valuation of more than $3 billion in November, almost three
times of what it was valued at in February last year.
Morgan Stanley and Goldman Sachs were the lead underwriters for
the offering.
(Reporting by Sohini Podder in Bengaluru; Editing by Shinjini
Ganguli)
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