Samsara Inc.'s shares rose 8% above the initial public offering price after its debut on the New York Stock Exchange on Dec. 15, according to reports from Reuters. This valued the Andreessen Horowitz-backed firm at $12.5 billion.
On December 15, the shares began trading on the New York Stock Exchange under the ticker symbol "IOT."
The initial public offering of 35 million shares if Class A common stock was priced at $23 per share. According to a release from Samsara, the offering is expected to close on December 17, 2021, subject to customary closing conditions. In addition, Samsara has granted the underwriters a 30-day option to purchase up to 5,250,000 additional shares of Class A common stock at the initial public offering price less underwriting discounts and commissions.
On Dec. 6, 2021, Samsara announced plans to commence the roadshow for its proposed initial public offering of its Class A common stock.