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Toast boosts expected IPO pricing, could be valued at up to $18 billion

MarketWatch
MarketWatch
 28 days ago
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Payment-technology company Toast Inc. offered updating pricing expectations Monday for its upcoming initial public offering. The company now expects the offering to price at $34 to $36 a share, up from $30 to $33 a share previously. Toast still intends to 21.7 million shares through the deal, so the company could raise up to $781 million at the high end of the expected pricing range. The offering would value Toast at up to $18 billion at the high end of the range. Toast offers payment processing and order-management software for restaurants. Its planned IPO comes as the Renaissance IPO ETF has increased 4.0% over the past three months and as the S&P 500 has gained 4.2% in that span.

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