trending Market Intelligence /marketintelligence/en/news-insights/trending/WYjyFRRhn9axm-Eq9WBSNg2 content esgSubNav
In This List

Underwriters exercise option in Snap IPO

Blog

Live TV still dominates most TV viewing in Asia

Blog

Netflix amortized content spend estimated at $13.6 billion in 2021

Blog

Credit Risk Trends for Telecom & Tech: A Mid-Year 2021 Outlook

Blog

Summer box office rebounds in 2021


Underwriters exercise option in Snap IPO

The underwriters of Snap Inc.'s offering exercised in full their option to purchase an additional 30,000,000 shares of class A common stock from Snap and some of the selling stockholders at $17 per share, less the underwriting discount.

Snap, the parent of ephemeral message service Snapchat, on March 7 closed its IPO at $17 per share. The total offering consisted of 230,000,000 class A shares of Snap, following the exercise in full by the underwriters of their overallotment option.

The company and the selling stockholders raised gross proceeds of $3.91 billion from the offering.

Morgan Stanley, Goldman Sachs & Co., J.P. Morgan, Deutsche Bank Securities, Barclays, Credit Suisse and Allen & Co. LLC acted as book-running managers for the IPO.