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 story : Global-e to go public after IPO priced at top of range, valuing company at more than .5 billion #FinanceUSA #StockMarketNEWS Global-e Online Ltd. is set to go public Wednesday, after the direct-to-consumer,

@stockMarketNEWS Wed 12 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Global-e to go public after IPO priced at top of range, valuing company at more than .5 billion #FinanceUSA #StockMarketNEWS
Global-e Online Ltd. is set to go public Wednesday, after the direct-to-consumer, cross-border ecommerce platform company's initial public offering priced at a share, at the top of the expected range of between and a share, to value the Israel-based company at about .56 billion. The company sold 15.0 million shares in the IPO to raise 5.0 million. The stock is expected to start trading on the Nasdaq under the ticker symbol "GLBE." Goldman Sachs, Morgan Stanley and Jefferies were the lead underwriters. The company reported a net profit of 5,000 on revenue of 6.4 million in 2020, after a loss of .5 million on revenue of .9 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has tumbled 25.5% over the past three months while the S&P 500 has gained 5.5%.


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