Toast set for NYSE debut Wednesday after IPO prices well above anticipated range
Toast Inc. TOST, , a restaurant-focused payments company, priced its initial public offering at $40 a share late Tuesday, significantly above its expected range of $34 to $36 apiece. That range had already been raised from the original $30 to $33 a share.
Shares are set to begin trading Wednesday on the New York Stock Exchange under the ticker symbol “TOST.”Toast makes software for restaurants that allows them to manage functions like business operations and online ordering, and the company also processes payments for restaurant customers. It sees opportunities to grow internationally and get existing customers to use more of its services.
Toast is betting that it can continue to win customers by delivering a focused offering full of services that cooperate with one another. Early on, the company found that restaurant owners were frustrated by older systems that didn’t connect well with each other, and Toast notes in its prospectus that many are still reliant on older processes like paper invoices and handwritten takeout orders.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toast prices IPO at $40 a share, way above range, for $20 billion valuation: reportsToast Inc., a restaurant-focused payments company, priced its initial public offering at $40 a share late Tuesday, according to Dow Jones Newswires and CNBC,...
Read more »
IPO market braces for 14 deals this week — including payment processor Toast — unless Evergrande woes send issuers scurryingThe biggest deal of the week is expected to come from Freshworks ($FRSH), a California-based customer support software company that is seeking to raise up to $969 million.
Read more »
Freshworks prices IPO at $36 a share, raising more than $1 billionFreshworks priced its initial public offering at $36 a share Tuesday night, above its expected range and raising more than $1 billion.
Read more »
Let's Break Down the Mind-Blowing Money in Universal Music's IPOUniversal Music Group is going public tomorrow — and its worth is expected to soar to a mind-boggling $60 billion. Let’s break down the avalanche coming for the music industry
Read more »
The Hut Group Beauty’s IPO Planned for 2022The Hut Group’s beauty branch is to be separated from the group and launched on the London Stock Exchange in 2022.
Read more »
Salesforce rival Freshworks raises $1.03 bln in U.S. IPO, valued at $10.13 blnBusiness software firm Freshworks said it had priced its U.S. initial public offering well above the target range to raise $1.03 billion, valuing the Salesforce.com rival at $10.13 billion as hybrid work fuels demand for its products.
Read more »