Microsoft-backed Rubrik poised to rise after above-expectations IPO

Rubrik

25/04/2024 15:59

** Cybersecurity software firm Rubrik Inc's  RBRK.N  shares
recently indicated to open at $37-$39, up to ~22% above the $32
IPO price
    ** Rubrik sold 23.5 mln shares, increased from 23 mln
shares, above marketed range of $28-$31 for total raise of $752
mln
    ** Its shares to begin trading on the NYSE with symbol
"RBRK"
    ** Microsoft  MSFT.O , though not noted in the SEC filing as
a major shareholder, made an equity investment in Rubrik in 2021
in financing round that reportedly valued the startup at $4 bln
    ** Goldman Sachs, Barclays, Citigroup and Wells Fargo
leading a 15-firm underwriting group for the IPO

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))