ForgeRock sets IPO terms, to be valued at up to $1.9 billion

ForgeRock Inc. has set terms for its initial public offering, in which the California-based identity security platform is looking to raise up to $264.0 million. The company said it is offering 11.0 million shares in the IPO, which is expected to price between $21 and $24 a share. That pricing would value the company at up to $1.91 billion. The stock is expected to list on the NYSE under the ticker symbol "FORG." Morgan Stanley and J.P. Morgan are the lead underwriters. The company recorded a net loss of $41.8 million on revenue of $127.6 million in 2020, after a loss of $36.9 million on revenue of $104.5 million in 2019. The company is looking to go public at a time of relatively strong investor demand for IPOs, as the Renaissance IPO ETF has rallied 10.4% over the past three months, while the S&P 500 has gained 7.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

ForgeRock sets IPO terms, to be valued at up to $1.9 billion
ForgeRock Inc. has set terms for its initial public offering, in which the California-based identity security platform is looking to raise up to $264.0 million. The company said it is offering 11.0 million shares in the IPO, which is expected to price between $21 and $24 a share. That pricing would value the company at up to $1.91 billion. The stock is expected to list on the NYSE under the ticker symbol "FORG." Morgan Stanley and J.P. Morgan are the lead underwriters. The company recorded a net loss of $41.8 million on revenue of $127.6 million in 2020, after a loss of $36.9 million on revenue of $104.5 million in 2019. The company is looking to go public at a time of relatively strong investor demand for IPOs, as the Renaissance IPO ETF has rallied 10.4% over the past three months, while the S&P 500 has gained 7.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.