Ethos Technologies IPO Set to Raise Over $200 Million with Strong Investor Backing | Ukraine news
A few days remain until Ethos Technologies’ public debut, which could be one of the first tech IPOs of the year. The company plans to price its shares at $18 to $20 per share and go public on Thursday.
At the indicated price range, the opening valuation could reach about $1.26 billion. That would mean raising roughly $102.6 million through the issue of new shares and about $108 million from the sale of existing investors’ shares. If investor demand is high, the price could rise, leading to a higher valuation and a larger amount raised.
Key Investors and the IPO Structure
The company is backed by leading venture players: Sequoia, Accel, GV (Alphabet’s venture arm), SoftBank, General Catalyst, and Heroic Ventures. The company says that Sequoia and Accel will not sell their shares during the IPO.
In the preceding years, Ethos attracted significant attention from the startup community thanks to a series of funding rounds up to 2021. Those rounds included backing from family offices, including some tied to well-known public figures.
According to the IPO documentation, Ethos has demonstrated profitability for many years. For the nine months ended September 30, the company generated about $278 million in revenue and net income of about $46.6 million.
