Duolingo Prices IPO Above Estimated Price At $102 Per Share, Trading Begins Today

Mobile language learning platform Duolingo, Inc DUOL priced 3.7 million shares at $102 per share in its initial public offering.
The estimated gross proceeds are $377.4 million.
The offer price has exceeded the estimated price range of $95-$100.
Selling stockholders are offering 1.4 million shares.
The underwriters have a 30-day option to purchase an additional 0.8 million shares.
Duolingo will not receive any proceeds from the sale of shares by the selling shareholders.
Duolingo is likely to begin trading on the Nasdaq under the symbol "DUOL" today.

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