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Pivotal IPO Comes at Good Time…for Pivotal

The initial public offering of Pivotal Software (PVTL) expected for pricing late Thursday probably isn’t an earnings story because the San Francisco-based company appears to be nowhere near profitability. The company, controlled by the private Dell Technologies, plans to offer 37 million shares in a range of $14 to $16 a share, which would give it a market value of about $3.8 billion based on 250 million outstanding shares.