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Update April 15th: this article from April 2nd has been updated to reflect the desired financial gains from Rubrik’s IPO according to a Reuters source.

Rubrik is hoping to secure $713 million with its planned IPO. The company filed documents with the U.S. watchdog SEC for an official listing earlier in the month. With this, ten years after its founding, public trading of the company’s shares beckons.

The official documents from early April already indicated that Rubrik intends to be traded on the stock exchange “as soon as practicable after this Registration Statement is declared effective.” This will take place at the New York Stock Exchange. An exact date is unknown, but according to recent rumours, Rubrik will want to be listed this month. However, Bloomberg sources are still holding back on the possible timing of the IPO.

Rubrik is planning to make 23 million shares available at a price per share somewhere between $28 and $31, a source told Reuters on the condition of anonymity.

This means Rubrik’s maximum market cap at IPO would be $5.4 billion.

Plans

The earlier documents filed with the SEC also offer more insight into the company’s financial results. In the fiscal year that ended in January, Rubrik posted a total revenue of $627.9 million, a growth of 5% compared to the previous year. That amounts to about €584.6 million. More than three-quarters of the revenue was spent on sales and marketing. As a result, the net loss came to $354.2 million, significantly higher than the previous year’s loss of $277.7 million.

Rubrik previously reached a valuation of $4 billion through investments. Microsoft, among others, invested significantly in the data management company. It was previously expected that Rubrik would seek to raise $750 million, but that figure has come down slightly. Once the number of shares and the price per share are officially confirmed, it will become clear how much the company wants to raise.

Tip: CrowdStrike Falcon XDR now integrates with Rubrik Security Cloud