The tech company behind tech companies hits the market next Friday, and it’s looking for investors.
The IPO
Fastly, Inc. will issue 11.25 million shares on the New York Stock Exchange under ticker FSLY, according to the firm’s S-1 filing. Priced between $14 and $16, the offering represents 100 percent of outstanding shares and is expected to bring in about $207 million.
The lead underwriters include Bank of America Merrill Lynch, Citigroup and Credit Suisse.
The company qualifies as an emerging growth company under the U.S. JOBS Act, which exempts management from certain SEC disclosure requirements.
The Company
Fastly operates an “edge cloud” converging a content delivery network with application delivery controllers, web application firewalls, bot detection and distributed denial of service solutions. Its infrastructure-as-a-service model serves as a supplement to data centers, central clouds and hybrid solutions.
The Finances
In 2018, management recorded revenue of $144.56 million for a net loss of $30.94 million. The previous year saw revenue of $104.9 million for a loss of $32.45 million.
Related Links:
Fastly Announces New Networking Collaboration with Microsoft Azure
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