SoftBank-backed Compass slashes IPO target by half
April 1, 2021
Real estate tech company Compass has reduced the amount it plans to raise in its IPO by around half to roughly $462.5 million at the midpoint price, with the goal of selling 25 million shares at between $18 and $19 apiece. A midpoint pricing would value the SoftBank-backed company at nearly $8.7 billion on a fully diluted basis. Compass had originally planned to sell 36 million shares at $23 to $26 each.