Overview
- EquipmentShare priced 30.5 million Class A shares at $24.50 each, raising about $747.3 million within its indicated range.
- Shares opened at $28.50 and finished the first session at $32.56, up 32.9%, after an opening that implied a valuation near $7.16 billion.
- The stock began trading January 23 on the Nasdaq Global Select Market under the ticker EQPT, with the offering expected to close January 26 subject to customary conditions.
- The business pairs a large rental operation with its T3 technology platform, operating 373 locations across 45 states with more than 7,500 employees and targeting roughly 700 sites.
- Underwriters received a 30-day option to buy up to 4,575,000 additional shares, with Goldman Sachs, Wells Fargo, UBS, Citigroup and Guggenheim serving as lead bookrunners.