The share price of Israeli work operating system company monday.com (Nasdaq: MNDY) rose a further 8.31% on Wall Street yesterday to $205.04, giving a market cap of $8.964 billion. The company also announced that the underwriters had exercised their options in full to buy 370,000 ordinary shares at the IPO price of $155 per share. The company’s share price has risen over 32% since last week’s IPO.
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Last Wednesday monday.com raised $574 million in the IPO and with the options, the company will have raised $631.4 million. In addition monday.com raised $150 million in a private placement from Zoom and Salesforce ($75 million each).
Goldman Sachs and J.P. Morgan acted as lead book-running managers for the offering and Allen Company and Jefferies acted as joint book-running managers. William Blair, Piper Sandler, Oppenheimer Co., Canaccord Genuity, Cowen, Needham Company, Academy Securities, Loop Capital Markets, Ramirez Co, Siebert Williams Shank and Tigress Financial Partners acted as co-managers for the offering.
monday.com, which was founded in 2012 by co-CEOs Roy Mann and Eran Zinman, has 800 employees and is headquartered in Tel Aviv. monday.com has developed a work operating system (Work OS), where organizations of any size can create the tools and processes they need to manage every aspect of their work.
Published by Globes, Israel business news – en.globes.co.il – on June 15, 2021
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