Monday.com sets terms for IPO, which would value company at more than $6 billion

Monday.com Ltd. has set terms for its initial public offering, in which the Israel-based software company could be valued at up to $6.12 billion. The company disclosed that it is offering 3.7 million share in the IPO, which is expected to price between $125 and $140 a share, to raise up to $518.0 million. The company is expected to have 43.7 million ordinary shares outstanding after the IPO. The stock is expected to trade on the Nasdaq under the ticker symbol “MNDY.” Goldman Sachs, J.P. Morgan, Allen & Co. and Jefferies are the lead underwriters. The company recorded a net loss of $152.2 million on revenue of $161.1 million in 2020, after a loss of $91.6 million on revenue of $78.1 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has lost 11.3% over the past three months, while the S&P 500 has gained 7.8%.

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