(Bloomberg) -- Unity Software Inc., a developer of software used to design video games, is seeking to raise $1.05 billion in a U.S. initial public offering.
The San Francisco-based company plans to sell 25 million shares for $34 to $42 each, according to a filing Wednesday with the U.S. Securities and Exchange Commission. At the high end of that range, Unity would be valued at about $11 billion based on the outstanding shares listed in the filing.
A flurry of technology companies are tapping the U.S. stock market before the U.S. presidential election on Nov. 3. Software firms Snowflake Inc., JFrog Inc., Sumo Logic Inc. started taking investor orders for their IPOs on Tuesday. Direct listing candidate Palantir Technologies Inc. hosted its investor day Wednesday, while one by Asana Inc. is set for Thursday.
Unity had about 40% year-over-year growth in revenue for the first half of the year, according to its filing. It estimated that more than half of the top 1,000 mobile games on Apple Inc.’s App Store and Google Play in 2019 were made with Unity, according to the filing.
The offering is being led by Goldman Sachs Group Inc. and Credit Suisse Group AG. Unity plans to list its shares on the New York Stock Exchange under the symbol U.
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