Cyber firm SentinelOne eyes IPO price as it gears up for offering

Cybersecurity firm SentinelOne has revealed it intends to raise up to $928m on its initial public offering (IPO) as it anticipates an IPO price range of between $26 to $29 per share.

According to Security Week, SentinelOne filed for an IPO in early June of this year and earlier this week revealed it is offering 32 million shares of its Class A common stock. The firm is aiming for a valuation over $7.3bn.

In addition to the shares sold in the public offering, some of the firm’s existing stockholders have agreed to purchase a number of shares with an aggregate price of around $50m.

SentinelOne’s stock will be listed on the New York Stock Exchange under the symbol ‘S’.

The company achieved unicorn status in February 2020 after its $200m Series E raised its value to over $1bn. In October the same year, the Israeli firm saw its value exceed $3bn after it raised $267m in a Series F funding round.

SentinelOne claims it has 4,700 customers and has reported revenues of $46.5m and $93.1m in fiscal 2020 and 2021, respectively.

Earlier this year, SentinelOne acquired logging startup Scalyr in a deal worth $155m in stock and cash.

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