Cybersecurity Company SentinelOne to go public via IPO

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SentinelOne could raise as much $1 billion when it prices its initial public offering on Tuesday.

The cybersecurity company on Monday increased the price range for the IPO. SentinelOne plans to offer 32 million shares at $31 to $32 each, up from $26 to $29 a share, its prospectus said. It will trade on the New York Stock Exchange under the ticker S. 

SentinelOne is scheduled to price its deal on Tuesday, and trade the next day, two people familiar with the situation said.  Morgan Stanley and Goldman Sachs are the lead underwriters on the deal. 

At $32 a share, SentinelOne’s valuation could hit $8.1 billion.

Sentinel One is the latest cybersecurity company to come to market. CrowdStrike Holdings (ticker: CRWD) went public in July 2019 at $34, and its shores rose 71% in the first day of trading. More recently, KnowBe4 (KNBE) made its debut in April, with shares rising nearly 51% from its $16 IPO price. McAfee’s (MCFE) second trip to the public markets in October saw the stock drop below its $20 offer price.