Confluent will offer 23,000,000 shares of Class A Common Stock at an initial price between $29.00 and $33.00 per share, according to the amended S-1.
Confluent shares will trade under the symbol “CFLT” on the NASDAQ global select market.
The IPO is expected to raise $713 million, according to Seeking Alpha, and would put Confluent’s market value at $10.0 billion, according to Renaissance Capital. (A Reuters story says Confluent is looking to raise up to $759 million and the IPO would put the company’s market capitalization around $8.3 billion.)
Insiders Coatue Management and Altimeter Capital, under an existing agreement, intend to purchase an aggregate 3.45 million shares of the IPO offering.
Major underwriters are Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, Bank of America Securities and Citigroup. Other underwriting participants include Barclays, Credit Suisse, Deutsche Bank Securities, UBS Investment Bank, Wells Fargo Securities, Cowen, D.A. Davidson & Co., JMP Securities, KeyBanc Capital Markets and Piper Sandler.