#technology | Palantir filing suggests valuation of around $25 bln ahead of U.S. listing


Sept 14 (Reuters) – Palantir Technologies Inc, the U.S. data
analytics company known for its secretive work with the Central
Intelligence Agency and other government groups, could be worth
around $25 billion ahead of a much-awaited public debut, a
regulatory filing indicated.

Its shares on the private market traded between $4.17 and
$11.50 a piece in August through Sept. 1, the filing https://www.sec.gov/Archives/edgar/data/1321655/000119312520244936/d904406ds1a.htm#rom904406_9
said, and its fully diluted share count stood at roughly 2.17
billion, including unvested stock options and restricted stocks.

Palantir, co-founded in 2003 by billionaire Peter Thiel, is
among this year most anticipated public listings, with
speculation about how much it is worth and whether investors see
it as a lucrative software provider or a less-glamorous
consulting business.

Palantir was valued at about $20 billion in its most recent
fundraising round in 2015. Last September, Reuters reported
Palantir was seeking a valuation of $26 billion during private
fundraising talks.

The filing also showed that Palantir had registered about
257.1 million of its shares for its stock market debut, up from
its previously disclosed figure of 244.2 million shares.

The company’s shares will start trading on the New York
Stock Exchange on Sept. 23. It aims to go public via a direct
listing.

As opposed to a traditional initial public offering, a
direct listing does not raise fresh funds. In a direct listing,
existing investors get to sell their shares.

Slack and Spotify are the other high-profile companies to
have taken the direct listing route to go public in recent
years.
(Reporting by Noor Zainab Hussain and C. Nivedita in Bengaluru;
Editing by Arun Koyyur)



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