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 story : Toast sets IPO terms, to be valued at up to .5 billion #FinanceUSA #StockMarketNEWS Toast Inc. has set the terms of its initial public offering, in which the Massachusetts-based restaurant payment

@stockMarketNEWS 15 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Toast sets IPO terms, to be valued at up to .5 billion #FinanceUSA #StockMarketNEWS
Toast Inc. has set the terms of its initial public offering, in which the Massachusetts-based restaurant payment processor looks to raise up to 7.4 million and be valued at up to about .5 billion. The company is offering 21.74 million Class A shares in the IPO, which is expected to price between and a share. The stock is expected to list on the NYSE under the ticker symbol "TOST." The company expects to have 21.74 million Class A shares outstanding after the offering and 477.59 million Class B shares. Goldman Sachs, Morgan Stanley and J.P. Morgan are the lead underwriters. The company recorded a net loss of 4.65 million on revenue of 3.75 million for the six months ended June 30, after a loss of 4.55 million on revenue of 3.84 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 8.3% over the past three months while the S&P 500 has gained 5.0%.


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