Samsara Inc (IOT) IPO Opens 8% Higher

Today's IPO for Samsara Inc. (NYSE: IOT) opened for trading at $24.90 after pricing 35,000,000 shares of Class A common stock at a price to the public of $23.00 per share, the top-end of the expected range.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan, and Allen & Company LLC are acting as lead book-running managers for the offering. RBC Capital Markets, Wells Fargo Securities, Evercore ISI, and William Blair are acting as book-running managers for the offering. Cowen, Wolfe | Nomura Alliance, Academy Securities, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., and Siebert Williams Shank are acting as co-managers for the offering.

Samsara Inc. is on a mission to increase the safety, efficiency and sustainability of the operations that power the global economy through its Connected Operations Cloud, which allows businesses that depend on physical operations to harness Internet of Things (IoT) data to develop actionable business insights and improve their operations.

: For the fiscal years ended February 1, 2020 and January 30, 2021, the company’s revenue was $119.9 million and $249.9 million, respectively, representing year-over-year growth of 108%. Total revenue for the nine months ended October 31, 2020 and October 30, 2021 was $174.0 million and $302.6 million, respectively, representing year-over-year growth of 74%.

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