Endpoint security company SentinelOne on Monday set the terms of its initial public offering (IPO).
SentinelOne filed for an IPO in early June and in an amendment made to its S-1 registration statement on Monday the company revealed that it’s offering 32 million shares of its Class A common stock.
SentinelOne expects its IPO price to range between $26 and $29 per share, which means it hopes to raise up to $928 million. The company is aiming for a valuation that exceeds $7.3 billion.
It also announced that in addition to the shares sold in the public offering, some of the existing stockholders have agreed to purchase a number of shares with an aggregate price of roughly $50 million.
SentinelOne stock will be listed on the New York Stock Exchange under the symbol “S.”
Founded in 2013, SentinelOne has developed an extended detection and response (XDR) platform that provides endpoint protection, endpoint detection and response (EDR), IoT control, and cloud workload protection capabilities.
The firm achieved “unicorn” status in 2020, after raising $200 million in a Series E funding round. By the end of the year, its valuation exceeded $3 billion after raising another $267 million in a Series F round. SentonelOne has raised a total of nearly $700 million.
The company claims to have 4,700 customers and reported revenues of $46.5 million and $93.1 million for fiscal 2020 and 2021, respectively. As for losses, it reported a net loss of $76.6 million and $117.6 million for fiscal 2020 and fiscal 2021, respectively.
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