Bending Spoons launches its IPO on the Nasdaq with an offering of up to $1.8 billion
The indicative price range for the offering, which will see the company listed on the Nasdaq, is between $26 and $28 per share.
by Mo.D.
Key points
Bending Spoons has its sights set on Wall Street. The Italian technology company has announced the launch of its initial public offering (IPO) with the aim of listing on the Nasdaq. The offering involves a total of 57.97 million ordinary shares. Of these, approximately 34.4 million will be sold directly by the company, whilst a further 23.6 million will be sold by certain selling shareholders. A so-called ‘greenshoe’ option is also included – that is, an over-allotment option granted to the underwriters for a period of 30 days – which could bring a further 8.7 million shares to the market.
The value of the offer
The indicative price range for the offering is between $26 and $28 per share. At the upper end of the range, and assuming the over-allotment option is exercised in full, the total value of the placement could approach $1.8 billion, confirming the international ambition of the company, which was founded in Milan and has become one of Europe’s leading players in consumer software in recent years.
The listing on the US technology exchange marks a significant milestone for Bending Spoons, which in recent years has accelerated its growth through major acquisitions in the digital applications and software services sector, building a portfolio of products used by hundreds of millions of users worldwide.
The operation
The company has clarified that the offer will be made exclusively by way of a prospectus. The documentation relating to the transaction has been filed with the US Securities and Exchange Commission (SEC), but the registration statement has not yet become effective. Consequently, the securities may not be sold, nor may offers to purchase them be accepted, until the authorisation process required by US law has been completed. In the press release, Bending Spoons also emphasises that the completion of the IPO remains subject to market conditions and other factors, specifying that there is no guarantee regarding the completion of the transaction, nor regarding the final size of the placement, the final price or the other terms of the offer.
The deal will be closely watched by international investors, as it represents one of the most significant attempts in recent years by an Italian technology company to list on the US markets and could mark a new phase of maturity for the European digital ecosystem.
