Dun & Bradstreet raised $1.7 billion in its initial public offering after the business information provider sold more stock than expected at a price above its indicated price range.
The company is listed on the New York Stock Exchange. Dun & Bradstreet trades
Dun & Bradstreet priced 78.3 million shares at $22 each. It was previously seeking to sell 65.75 million shares for $19 to $21 apiece.
The underwriters have an option on as many as an additional 11.7 million shares.
Goldman Sachs, Bank of America Securities, J.P. Morgan and Barclays are lead book-running managers and representatives of the underwriters for the offering.
"We are the world’s leading source of commercial information and insight on businesses, enabling customers to decide with confidence for over 171 years," the company said in its IPO prospectus. "Our global commercial database contains more than 215 million business records."
Dun & Bradstreet said in the prospectus that it would use the proceeds to redeem $1.27 billion of preferred stock, as well as repay $342 million of bonds outstanding.
The company's stock first traded at $25 as of 11 a.m. Wednesday, July 1.
Dun & Bradstreet's CFO Bryan Hipsher joined TheStreet to talk about going public and how the company is faring during the coronavirus pandemic.
Watch the interview above for more.
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