from Hacker News

Online Storage Provider Box Prices I.P.O. at $14 a Share

by louhong on 1/23/15, 12:25 AM with 25 comments

  • by mikeyouse on 1/23/15, 12:46 AM

    There isn't much content in the article worth getting around the WSJ Paywall;

        Online-storage company Box Inc. priced its initial public offering at
        $14 apiece late Thursday, above expectations, according to a person
        familiar with the offering.
    
        The deal raised $175 million by selling 12.5 million shares, according
        to the person. The company had been looking to sell 12.5 million shares
        in the range of $11 to $13 a share, according to a regulatory filing.
    
        Box’s IPO comes roughly 10 months after it publicly filed for an IPO.
        Those plans were postponed amid a drop in demand for technology
        stocks, and in the ensuing months it turned to the private market to
        raise additional funding.
    
        Box plans to start trading Friday on the New York Stock Exchange
        under the ticker “BOX”.
    
        The deal is being led by Morgan Stanley, Credit Suisse
        and J.P. Morgan.
    
    (Hope it's okay to Mirror here)
  • by 7Figures2Commas on 1/23/15, 1:09 AM

    The NYT[1] has some important context missing in the WSJ summary:

    > At that price, the company will still be valued at $1.7 billion, but it is well below the $2.4 billion valuation sold to investors in a financing round last summer.

    The float looks small though, so there's hope for last round's muppets.

    [1] http://dealbook.nytimes.com/2015/01/22/online-storage-provid...

  • by bruceb on 1/23/15, 1:29 AM

    More on the delay from announcing their intention to IPO to actually getting there. https://news.ycombinator.com/item?id=8932932
  • by loosescrews on 1/23/15, 12:55 AM

    Who actually uses Box? Does anyone here use their service? Do they have some submarket cornered?

    Most of what I hear about them is related to their IPO or recruitment.