Daniel Loeb-Backed SentinelOne Prices Upsized US IPO At $8.1B Valuation: Reuters

Billionaire investor Daniel Loeb's hedge fund, Third Point-backed cybersecurity firm SentinelOne Inc S, aims to raise $1.02 billion from the sale of 32 million shares at $31 - $32 per share in an upsized initial public offering, Reuters reported.
The company is targeting a valuation of $8.11 billion.
The IPO price previously lied between $26 - $29.
It aims to list its shares on the NYSE under the symbol "S."
Tiger Global, Sequoia Capital, and Insight Venture Partners venture capital firms back the firm.
SentinelOne protects laptops and mobile phones from security breaks via artificial intelligence technology to identify unusual behavior in enterprise networks.
Morgan Stanley and Goldman Sachs are the lead underwriters for the offering.