EquipmentShare completes IPO, begins trading on Nasdaq
Company's stock up more than $5 per share on first day
EquipmentShare has completed its transition to a public company, pricing its initial public offering at $24.50 per share today on the Nasdaq Global Select Market under the ticker symbol EQPT.
The IPO consisted of 30.5 million shares of Class A common stock, with underwriters granted a 30-day option to purchase up to an additional 4.6 million shares to cover over-allotments, according to today’s EquipmentShare release. The offering is expected to close Jan. 26, subject to customary conditions. Goldman Sachs, Wells Fargo Securities, UBS Investment Bank, Citigroup and Guggenheim Securities served as lead book-running managers.
Founded in 2015 by brothers Jabbok and Willy Schlacks, Columbia, Mo.-based EquipmentShare has grown into one of the largest equipment rental providers in the United States and a leader in connected jobsite technology, according to a second company release today. The company integrates a national rental fleet with its proprietary T3 platform, which provides telematics, fleet management and data-driven tools designed to improve safety, productivity and efficiency on construction jobsites.
EquipmentShare said the public offering supports its strategy to scale its technology-first model, expand into new verticals and continue modernizing how contractors manage equipment and projects nationwide, according to the release.
Shares of EquipmentShare.com Inc. [NASDAQ: EQPT] were $32.56 at market close today, up $8.06 or 32.9% from market open. EquipmentShare has a market cap of $6.16 billion.
Check out our exclusive industry data here.
Proud Member Of
Check Out Our Industry Event
