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Gitlab Exceeds IPO Target Price to Raise $801 Million

  • Shares priced above the marketed range at $77 apiece
  • Co-founder, CEO Sijbrandij sells stake worth $152 million
Sytse Sid Sijbrandij Source: GitLab
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Software development platform Gitlab Inc. priced an initial public offering above a marketed range to raise $801 million.

The company, along with co-founder Sytse “Sid” Sijbrandij, sold 10.4 million shares Wednesday for $77 each after marketing them for $66 to $69, according to a statementBloomberg Terminal. Gitlab on Tuesday had elevated the price target from an earlier range of $55 to $60.

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Gitlab Exceeds IPO Target Price to Raise $801 Million