The company plans to raise $2.7B from its IPO

Snowflake is prepping for an initial public offering (IPO) and it could have the cloud data storage company bringing in $2.7 billion

The San Mateo, Calif.-based software-solutions company Snowflake plans to sell 28 million shares at a price between $75 and $85 apiece.

Everything investors must need to know about the Snowflake IPO.

  • All details about the IPO revealed when the company fill IPO with the U.S. Securities and Exchange Commission on Tuesday.
  • In that filing, the company Snowflake says the plan is to sell 32.2 million shares of its stock to investors.
  • There would be an option for underwriters to purchase an additional 4.2 million shares of its stock.
  • This stock will be listed on the worlds most popular New York Stock Exchange under the “SNOW” stock ticker.
  • The company plans to set the price of share $85 each in the IPO
  • The IPO filing at U.S. Securities and Exchange Commission mentions that the company is hoping to set its share price of SNOW stock between $75 and $85 per share.
  • The main thing Snowflake expects to raise about $2.74 billion from the IPO listing.

Warren Buffett: $570 Million Investment in Snowflake IPO

Incorporated with the IPO are responsibilities from Buffett’s Berkshire Hathaway (BRKB) and Salesforce Ventures to each purchase $250 million of Class A typical stock in a private situation.

Likewise, Berkshire will purchase an extra $320 million worth of offers. Those offers will be purchased from an anonymous partner in an optional exchange. That carries Berkshire’s absolute speculation to $570 million.