Software maker CrowdStrike Holdings Inc. soared in its trading debut after raising $612 million in one of the biggest-ever initial public offerings for a cybersecurity company.
Shares opened at $63.50 in New York and rose as much as 97% from their IPO price to $67. The stock closed up 71% to $58 on June 12. That valued the company at about $11.41 billion, almost quadruple its $3 billion valuation last June when it raised about $200 million in a private funding round.
CrowdStrike sold 18 million shares on June 11 at $34 each, above its already elevated target range, the ...