Cloud computing services provider Fastly Inc. (NYSE: FSLY) shares rallied as the tech firm made its debut Friday on the New York Stock Exchange.
Fastly issued 11.25 million shares priced at around $16 per share. The stock opened for trade at $21.50.
The IPO lock-up period will be 180 days. This is a contractual restriction preventing insiders who acquired shares of a company's stock before it went public from selling the stock for a stated period of time after it goes public.
The lead underwriters include Bank of America Merrill Lynch, Citigroup and Credit Suisse.
Comments
Log in or sign up to join the conversation.