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Siebel-Led C3.ai Exceeds IPO Target to Raise $651 Million

Tom Siebel
Tom SiebelPhotographer: F. Carter Smith/Bloomberg

C3.ai Inc., the software maker founded by former Oracle Corp. executive Tom Siebel, has priced its initial public offering above the marketed range to raise $651 million, according to a people familiar with the matter.

The Redwood City, California-based company sold 15.5 million shares Tuesday for $42 apiece after marketing them for $36 to $38, said the people, who asked not to be identified because the information wasn’t public yet. Based on the outstanding shares listed in its filings, the company will have a market value of about $4 billion at $42 a share.