Pinterest, a San Francisco, CA-based visual discovery company, priced its initial public offering.
Its Class A common stock were launched at a price to the public of $19.00 per share. The company is offering 75,000,000 shares of its Class A common stock, plus up to an additional 11,250,000 shares that the underwriters have the option to purchase.
The shares began trading on the New York Stock Exchange on April 18, 2019 under the symbol “PINS”.
The offering is expected to close on April 23, 2019, subject to customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Allen & Company LLC are serving as lead joint book-running managers for the offering. BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC. are also acting as book-running managers for the offering. Robert W. Baird & Co. Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC are serving as co-managers for the offering.
Founded in 2010 by Ben Silbermann, Paul Sciarra, and Evan Sharp, Pinterest is a visual discovery engine that more than 250 million people use every month to find inspiration for their ideas, ranging from dinner recipes, to home decor, to new outfits.