Instacart Files Plans to Go P...

Instacart Files Plans to Go Public on Nasdaq

Aug 31, 2023

(Image Source: Marques Thomas/ Unsplash)

On 25 August 2023, Instacart, a prominent grocery technology company, disclosed its filing of a Form S-1 registration statement with the U.S. Securities and Exchange Commission, signifying its intent for an initial public offering of its common stock. While the precise number of shares and price range for the offering remain to be determined, the company aims to list its common stock on the Nasdaq Global Select Market under the symbol "CART."

According to the press release, Goldman Sachs & Co. LLC and J.P. Morgan are set to lead as book-running managers for the anticipated offering. Additionally, BofA Securities, Barclays, and Citigroup will function as supplementary book-running managers. An array of co-managers, including Baird, JMP Securities, and more, will play roles in the proposed offering.

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This forthcoming offering will be executed solely through a prospectus. Interested parties can obtain preliminary prospectus copies from Goldman Sachs & Co. LLC or J.P. Morgan Securities LLC. A registration statement concerning these securities has been submitted to the U.S. Securities and Exchange Commission, though it has yet to attain effectiveness. The securities will not be offered or sold in states or jurisdictions where doing so would breach securities laws.

“We believe the future of grocery won’t be about choosing between shopping online and in-store. Most of us are going to do both. So we want to create a truly omni-channel experience that brings the best of the online shopping experience to physical stores, and vice versa,” said CEO Fidji Simo.

Source: Instacart Files Registration Statement for Proposed Initial Public Offering

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