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Palantir Will Host Investor Presentation Ahead of Stock Listing

Lizette Chapman
·1 min read

(Bloomberg) -- Palantir Technologies Inc., the data-mining company backed by Peter Thiel, will hold a presentation for investors on Sept. 9 before a long-anticipated stock listing.

The Investor Day event will be livestreamed online at 10 a.m. Eastern time, the company said in a statement. The presentation is designed to walk prospective shareholders through the company’s business before it begins trading on the New York Stock Exchange in the coming weeks.

The Denver-based company will list its shares directly on the exchange instead of raising capital through an initial public offering. Other companies that took similar paths to the public markets, including Spotify Technology SA and Slack Technologies Inc., held online events like the one Palantir has planned.

Long shrouded in secrecy, Palantir was founded in 2003 and bankrolled partly by Thiel. The company built its early business on contracts with the Central Intelligence Agency and other arms of the U.S. government.

Palantir is opening its books for the first time as part of the move to go public. The company has never been profitable and lost $580 million last year, according to its prospectus published last week. It generated $743 million in revenue, almost half of which came from government work.

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