C3.ai, Inc. (AI) to Raise $504 Million in IPO

C3.ai, Inc. (AI) is planning to raise $504 million in an initial public offering on Wednesday, December 9th, IPO Scoop reports. The company plans to issue 15,500,000 shares at $31.00-$34.00 per share.

In the last twelve months, C3.ai, Inc. generated $156.7 million in revenue and had a net loss of $69.4 million. The company has a market cap of $3 billion.

Morgan Stanley, J.P. Morgan and BofA Securities acted as the underwriters for the IPO and Deutsche Bank Securities was co-manager.

C3.ai, Inc. provided the following description of their company for its IPO: “C3.ai is an Enterprise AI software company. We provide software-as-a-service, or SaaS, applications that enable the rapid deployment of enterprise-scale AI applications of extraordinary scale and complexity that offer significant social and economic benefit. All C3.ai software applications can be deployed on Azure, Amazon Web Services, or AWS, the IBM Cloud, Google Cloud Platform, or on-premise. Our customers include AstraZeneca, Baker Hughes, ConEdison, Koch, Raytheon Industries, Shell and the U.S. Air Force.  “.

C3.ai, Inc. was founded in 2009 and has 482 employees. The company is located at 1300 Seaport Blvd, Suite 500 Redwood City, CA 94063 and can be reached via phone at (650) 503-2200.

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