MongoDB, Inc. MDB shares are trading lower on Wednesday after the company priced its upsized public offering of 2.5 million shares of common stock at $365 per share.
"MongoDB estimates that the net proceeds from the sale of the shares will be approximately $889.0 million," according to the press release.
MongoDB is a document-oriented database with nearly 25,000 paying customers and well past 1.5 million free users. The company provides both licenses as well as subscriptions as a service for its NoSQL database.
MongoDB's stock was trading about 4.5% lower at $366.38 at the time of publication. The stock has a 52-week high of $428.96 and a 52-week low of $186.27.
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