Banking Recap

Rubrik, Inc. Prices Equity Offering

Rubrik, Inc. priced its initial public offering of 23,500,000 shares of Class A common stock at 32.00 dollars per share, listing on the New York Stock Exchange under the symbol RBRK. Prior to the offering there had been no public market for Rubrik's Class A common stock, and the company disclosed a two-class share structure in which Class A and Class B shares carry identical rights except for voting, conversion and transfer provisions.

Apr 24, 2024·SEC EDGAR (424B4)·pending regulatory·initial public offering

This record is sourced from the prospectus (Form 424B4) that Rubrik filed with the SEC, dated April 24, 2024, with underwriters expected to deliver shares against payment on April 29, 2024. This document represents the final, priced IPO prospectus rather than a preliminary filing.

This is a capital markets underwriting, not an M&A advisory mandate: the cover page of the prospectus lists a syndicate of underwriters led by Goldman Sachs & Co. LLC, with Barclays named second among them, followed by Citigroup, Wells Fargo Securities, Guggenheim Securities, Mizuho, Truist Securities, BMO Capital Markets, Deutsche Bank Securities, KeyBanc Capital Markets, Cantor, CIBC Capital Markets, Capital One Securities, Wedbush Securities and SMBC Nikko. The listing order and typical IPO syndicate conventions indicate Goldman Sachs held the lead left position, with Barclays serving as a senior but non-lead joint bookrunner; the prospectus text available in this excerpt does not explicitly label individual banks' roles beyond listing them on the cover.

No legal advisors are disclosed in the excerpted text reviewed for this filing.

On deal mechanics, the prospectus states the underwriters had an option to purchase up to an additional 3,525,000 shares if they sold more than 23,500,000 shares, exercisable at the IPO price less underwriting discounts and commissions.

Not disclosed in the excerpted text: a precise statement of aggregate gross proceeds (the approximate 752 million dollar figure is derived by multiplying the 23,500,000 share count by the 32.00 dollar offering price rather than appearing as a single verbatim sentence), the explicit designation of which underwriter served as sole lead left bookrunner, and the use of proceeds in detail beyond the cover page terms.