Unity software priced its 25M IPO shares at $52 per share after it lifted the price from $44-48 per share. The shares are available for trading on the New York Exchange from September 18, 2020.
The Unity share trading started under the symbol “U”’ and the offering is expected to close on September 22, 2020. The trading subjects to conventional closing constraints, due to a 6 month lockup period.
- The company knocks off to more than 31% on the first day. Before closing the first day at $68.35, the opening prices were recorded at $75 per share.
- The share price of Unity rose after the pricing of the last night of the company’s stock at $25. This is well above the range of $44-48 that was adjusted higher than the initial target of the company.
- Unity has granted a 30-day option to the underwriters to buy up to 3,750,000 supplemental shares of common stock at the IPO price. The underwriting discounts and commissions will be lessened from the price.
Employees and former employees are able to sell up to 15% of their vested equity bonuses. However, this “free-to-sell” rule excludes directors and executive officers.
“Pokemon Go” and “Iron Man VR” are the renowned names among the gaming industry which were developed by using Unity software. Unity’s CEO says that IPO pricing is a “very data-driven process.” The increase in IPO price was a result of this process and the raised range rose during the first day’s trading. Though the trend was observed to be less than 50% and is a good outcome of the IPO.