Finance History | 11 Wall Street — Eighteen Dollars for Eleven Point Six Five Million Shares Called NOW
· 2012-6
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Finance History | 11 Wall Street — Eighteen Dollars for Eleven Point Six Five Million Shares Called NOW
kevin
People treat ServiceNow as a Santa Clara workflow-software house that always printed NOW.
The first tape was a New York listing priced above the range after Facebook's May 2012 offering had chilled the book.
On 29 June 2012 ServiceNow sold 11.65 million common shares at 18 dollars each in 2012 currency.
The company sold 9 million shares. Founder Fred Luddy sold 2.65 million. Gross proceeds were about 209.7 million dollars.
The planned range had been 15 to 17 dollars. Reuters recorded an opening print of 23.75 dollars on the New York Stock Exchange. Bloomberg recorded a close of 24.60 dollars, 37 percent above the offer.
The present tape is still NOW on the New York Stock Exchange.
The mechanism is a cash IPO of an on-demand IT-operations platform, with part of the float coming from the founder rather than from the company.
The pin is the Broad Street facade of the Exchange, where NOW opened.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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