Riskified to hit NYSE at $3.3 billion valuation
Israeli fraud management platform raised higher-than-expected $368 million in IPO thanks to high demand
Sophie Shulman | 09:59 29.07.2021
Tel Aviv-based online payments fraud prevention company Riskified will begin trading on the New York Stock Exchange on Thursday at a $3.3 billion valuation. The company announced on Wednesday night that the pricing of its initial public offering of 17,500,000 Class A ordinary shares was ultimately set at $21, meaning it raised $368 million. Riskified announced last week that it expected the price of shares to be between $18 and $20 per share, however, was eventually able to increase the price due to high demand. 17,300,000 Class A ordinary shares were on offer, as well as 200,000 Class A ordinary shares sold by Riskified’s co-founder Assaf Feldman. Feldman will still maintain a 9.5% stake in the company following the sale, the same as co-founder CEO Eido Gal. The underwriters will have a 30-day option to buy an additional 2,625,000 Class A ordinary shares from Riskified at the initial public offering price. Riskified's shares will be listed under the ticker symbol “RSKD”.