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Samsara prices IPO at $23 per share to raise $805m

By Kevin Donovan

13:36, 15 December 2021

Samsara platform overview
Samsara priced its planned offering of 35 million shares - Photo: Samsara

Samsara priced its planned offering of 35 million shares to the public at $23 per share, raising $805m for an $11.5bn valuation, the company announced Wednesday.

The San Francisco, California-based internet of things logistics manager is scheduled to begin trading on the NYSE Wednesday under the ticker IOT.

Settlement is scheduled for Friday.

Offer details

Morgan Stanley, Goldman Sachs, JPMorgan and Allen & Co. acted as joint lead book-running managers. RBC Capital Markets, Wells Fargo Securities, Evercore ISI and William Blair acted as book-running managers.

Cowen, Wolfe | Nomura Alliance, Academy Securities, Loop Capital Markets, R Seelaus, Ramirez & Co. and Siebert Williams Shank acted as co-managers.

The offering includes a 30-day option for the underwriting group to purchase an additional 5.25 million shares at the IPO price, bringing total proceeds up to a potential $925.7m.  


44,031.25 Price
-1.300% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


0.68 Price
+0.380% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


16,080.90 Price
+0.500% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 7.0

Oil - Crude

71.41 Price
+2.320% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee -0.0015%
Overnight fee time 22:00 (UTC)
Spread 0.030

Private equity backers Andreessen Horowitz and Catalyst General, which owned 20.1% and 11.6% of Samsara, respectively, were allocated roughly 6 million shares, the company reported in the prospectus filed with the US Securities & Exchange Commission.  

Cloud-based subscriber model

Samsara manufactures and sells software to private industry and local municipalities managing devices interconnected over its subscription-based cloud service.

As of 31 October, Samsara reported over 13,000 subscribers with roughly $5,000 annual recurring revenue per subscriber. Subscriptions accounted for roughly 98% of Samsara’s revenues over the previous two fiscal years.

Samsara reported a $210.2m loss, or 98 cents per share, for its fiscal year ended 1 February, on $249.9m in revenue. 

Read more: Internet of Things software company Samsara plans IPO

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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