C3.ai (AI) IPO Opens 138% Higher

Today's IPO for C3.ai (NYSE: AI) opened for trading at $100 after the pricing of its initial public offering of 15,500,000 shares of its Class A common stock at a price of $42.00 per share.

C3.ai has granted the underwriters a 30-day option to purchase up to an additional 2,325,000 shares of Class A common stock at the initial public offering price less underwriting discounts and commission.

Morgan Stanley, J.P. Morgan and BofA Securities are acting as lead book-running managers for the offering. Deutsche Bank Securities is acting as a book-running manager for the offering. Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, Needham & Company, Piper Sandler and Wedbush Securities are acting as co-managers for the offering.

C3.ai is a leading enterprise AI software provider for accelerating digital transformation. C3.ai delivers the C3 AI Suite for developing, deploying, and operating large-scale AI, predictive analytics, and IoT applications in addition to an increasingly broad portfolio of turn-key AI applications. The core of the C3.ai offering is a proprietary, model-driven AI architecture that enhances data science and application development.

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