Deals
Restaurant Software Firm Toast Pops Up to 65% in IPO Debut
- Boston-based Toast’s market value reaches $31 billion
- CEO says pandemic forced ‘tough choices’ including job cuts
This article is for subscribers only.
Toast Inc., which helps restaurants handle payments, jumped 56% in its trading debut after a $870 million initial public offering priced above a marketed range.
Shares of the Boston-based company opened at $65.26 on Wednesday, up 63% from the $40 offer price. The company sold 21.7 million shares on Tuesday after marketing them at $34 to $36 apiece.