Upwork (UPWK) IPO Opens 53% Higher

Today's IPO for Upwork Inc. (NASDAQ: UPWK) opened for trading at $23 after pricing 12,476,693 shares of its common stock at a price to the public of $15.00 per share.

6,818,181 of the shares are being offered by Upwork and 5,658,512 of the shares are being offered by certain selling stockholders. In addition, Upwork and the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,871,503 additional shares of common stock at the initial public offering price less underwriting discounts.

Citigroup Global Markets Inc., Jefferies LLC, and RBC Capital Markets, LLC are acting as joint-bookrunning managers for the offering. Stifel, Nicolaus & Company, Incorporated and JMP Securities LLC are acting as co-managers.

Upwork is the largest online global marketplace that enables businesses to find and work with highly-skilled freelancers. The company’s mission is to create economic opportunities so people have better lives.

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