CrowdStrike representatives officially filed their papers for IPO to the Securities and Exchange Commission on Wednesday, May 29th, 2019, after previously being estimated at 3.4 billion dollars.
As the cybersecurity unicorn is getting ready to go public, CrowdStrike revealed the share price target in their official IPO filing.
In the official documents submitted to the SEC, CrowdStrike revealed that the company expects to see the starting share price between 19$ and 23$ per share.
The company will be issuing B class and A class shares, while there should be 18 million A class shares with 2.7 million shares outstanding in addition to the initial number of shares waiting to be issued.
In case the company’s shares would start at the higher end of estimates, CrowdStrike value could climb from 3.4 billion to over 4.5 billion dollars.
CrowdStrike and Funding Rounds: How Much is CrowdStrike Planning to Raise through IPO?
While the value of the company might easily rise by over 1 billion dollars in case of a successful IPO debut, the company is planning to raise around 350 million dollars through their initial public offer.
CrowdStrike is said to utilize that money for operating costs and future expansion. Previously, CrowdStrike managed to raise 481 million dollars through private funding rounds since 2011 till present.
CrowdStrike Profitability and Competitors
CrowdStrike is competing with some of the big-name players in the sector of cybersecurity, which includes Kaspersky, McAfee and Symantec as some of the company’s main competitors.
In the meanwhile, CrowdStrike remains yet unprofitable as it is the case with most tech companies looking to go public. As the company is looking into market growth, the received funding has been spent on expansion and operation costs.
As the company reports, CrowdStrike is focusing on marketing and expansion, which is why the company won’t be profitable in the near future.