Carbon Black’s stock rockets 30% in public debut
Shares of Carbon Black Inc. shot higher Friday, on the cloud-based cybersecurity company public debut. The first trade was at $24.70 at 11:23 a.m. ET for 1.3 million shares, or 30% above the initial public offering price. It was recently up 33.4%. The IPO priced late Thursday at $19 a share, at the top of the expected range of $17 to $19, to value the company at about $1.3 billion. The company raised $152 million with the IPO, and could raise as much as $174.8 million if all the options to buy additional shares that were granted to underwriters are exercised. Carbon Black has gone public at a time that the Renaissance IPO ETF has edged up 0.3% in the past three months and the S&P 500 has lost 4.0%.