Samsara sets IPO terms, which could value the Internet-of-Things company at over $11 billion

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Sansar Inc. IOT,
-2.63%
has set the terms for its initial public offering, in which the California-based Internet-of-Things data company is looking to raise up to $805.0 million. The company is offering 35.0 million Class A shares in the IPO, which is expected to be priced between $20 and $23 per share. With a total of 500.35 million Class A and Class B shares expected to be outstanding after the IPO, the expected pricing would value the company by approximately $11.5 billion. The stock is expected to be listed on the NYSE under the ticker symbol “IOT”. Morgan Stanley, Goldman Sachs, JP Morgan and Allen & Company are the principal underwriters. The company reported a net loss of $102.3 million on revenue of $302.6 million for the nine months ended October 30, compared to a loss of $174.0 million on revenue of $174.0 million in the same period a year ago. The company intends to go public during the rough market environment for IPOs in the form of the Renaissance IPO ETF IPO.
-1.72%
has fallen 18.0% over the past three months while the S&P 500 SPX,
+1.05%
increased by 1.1%.

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