- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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