According to CNBC, AI chip company Cerebras Systems is expected as early as Monday to increase the size and pricing range of its initial public offering (IPO), raising the proposed price per share from $115 to $125 to $150 to $160, and increasing the number of shares offered from 28 million to 30 million. At the upper end of the new range, Cerebras could raise approximately $4.8 billion, surpassing its original plan of $3.5 billion. Sources indicate that demand for the IPO has exceeded 20 times the available shares. Cerebras expects to set the price on May 13 and plans to list on the Nasdaq Global Select Market under the ticker symbol “CBRS”.
Cerebras to Raise IPO Price Range to $150–$160, Aiming for $4.8 Billion in Proceeds
TechFlowShare
Summary
Cerebras Systems is raising its IPO price range to $150–$160 per share, up from $115–$125, with 30 million shares now being offered. The move could raise up to $4.8 billion, exceeding the initial target of $3.5 billion. Insiders report the IPO is oversubscribed by more than 20 times. The offering is scheduled to price on May 13 and list on Nasdaq as CBRS. Altcoins to watch may respond to broader market sentiment, while crypto price trends remain closely monitored by traders.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.