EquipmentShare prices $747.25m IPO at $24.50 a share
The construction equipment and technology company priced 30.5 million primary shares ahead of its Nasdaq debut.
EquipmentShare has priced its initial public offering of 30.5 million Class A shares at $24.50 each, representing $747.25m in gross proceeds before fees and expenses.
The company expects its shares to begin trading on the Nasdaq Global Select Market on January 23 under the symbol EQPT. The offering is expected to close on January 26.
EquipmentShare combines equipment rentals with its T3 software platform and telematics hardware. Contractors use the system to track fleets, monitor utilization and manage maintenance across jobsites.
Selling stockholders granted the underwriters an option to buy an additional 4.575 million shares. That secondary option is separate from the company’s primary offering.