Italian software firm Bending Spoons priced its IPO above range at $29 per share, raising $1.68 billion in proceeds.
Bending Spoons, the Milan-based owner of AOL, Vimeo, and Evernote, priced its Nasdaq initial public offering at $29 per share, above its $26 to $28 marketed range. The deal values the company at approximately $18.4 billion and generated $1.68 billion in proceeds from roughly 58 million shares sold.
The IPO saw strong demand from both returning and new investors, with indicative pricing earlier suggesting a potential $33 per share, which would have valued the company at $21 billion. The shares will debut on the Nasdaq under the ticker symbol BSP.
Founded in 2013, Bending Spoons has grown through acquisitions, targeting digital businesses for cost reduction and product improvement. The company’s strategy has created significant wealth for its founders, each now holding net worths exceeding $2 billion.