today we have New filings from Couchbase and Cultura: Couchbase set An initial price range for its IPO, something we’ve been waiting for, and Cultura’s offering is back from hiatus with a new price range and some new financial information to boot.
Both the reports will help us understand how the IPO cycle for the third quarter of 2021 is shaping up at the beginning.
Nerdshala has long expected the third quarter IPO to prove strong; Investors said that as 2020 closes out, the first, three and four quarters will prove very active in terms of exiting the public market this year. Then the second quarter exceeded expectations, with more companies going public than at least some market observers expected.
With that in mind, you can imagine why the newly launched Q3 could prove to be an active period.
so! Let’s start with digging into filings from NoSQL provider Couchbase, working to understand its first price range and what the numbers might say about market demand for tech starters. Here’s our first look at the value of the company. Then we’re back to the Cultura saga, examining pricing and second quarter results from a technology company that provides video streaming software and services.
To be honest, I was waiting for these evils to subside. So, let’s cut the chat and get to the numbers:
Couchbase IPO Price Range
In its New S-1/A Filing, Couchbase reports that it anticipates an IPO price of $20 to $23 per share. With a maximum sale of just over 8 million shares, Couchbase could raise up to $185.15 million in its public offering.
The company will have 40,072,801 shares outstanding after the IPO, excluding the 1,050,000 shares that are reserved for potential release. From here the math is simple. To calculate possible couchbase easy IPO Valuation We can multiply just a little:
- Couchbase’s simple valuation at $20 per share: ~$802 million
- Couchbase’s simple valuation at $23 per share: ~$922 million
If you want to include the company’s reserve shares, add $21 million to the first figure and $24.2 million to the second. Notably, Nerdshala wrote before its price that using historical analogs from Red Hat—IBM sales—both Couchbase and Red Hat operate in the OS space—would cost the company about $900 million. So, we were pretty close.