From BigGo Finance · BigGo Finance · · 1m 10s
Anthropic Pulls IPO Filing Over Pricing Error
Anthropic withdraws IPO filing after pricing error, $64.4B raise to be refilled.
In brief
Anthropic withdraws IPO filing after pricing error, $64.4B raise to be refilled. Anthropic pulled its IPO filing due to pricing errors, with a $64.4 billion raise to be refilled after initial errors were discovered. Originally reported by BigGo Finance.
Anthropic Withdraws IPO Filing
Anthropic sent a prospectus to underwriting banks on Nov. 9 but withdrew it due to pricing errors.
Initial Offering Details
The withdrawn filing showed plans to offer 867 million shares at $70 to $80 each, raising up to $69.3 billion.
Cornerstone Investors
Seven companies including Google, Nvidia, Microsoft, AMD, Broadcom, Micron and TSMC Partners will subscribe $26 billion in private placement.
Pricing Timeline
Anthropic planned to launch roadshow on Nov. 10, price in week of Nov. 16, and list on Nasdaq before Thanksgiving.
Valuation Drop
Market expectations for Anthropic's valuation fell from $2 trillion to $1.1 trillion to $1.3 trillion.
Revenue and Growth
Quarterly revenue approaching $17 billion but growth has slowed significantly.
Market Impact
The pricing error could delay the IPO or force lower pricing, affecting other AI companies' listing plans.
The headline
Anthropic pulled its IPO filing due to pricing errors, with a $64.4 billion raise to be refilled after initial errors were discovered.
