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CrowdStrike IPO success puts spotlight on endpoint security

June 13, 2019 / Mekhala Roy

Cybersecurity firm CrowdStrike made its successful Wall Street debut Wednesday. The company closed its trading with a share price of $58. Endpoint security vendor CrowdStrike raised more than $600 million in its initial public offering Wednesday. CrowdStrike shares closed at approximately $58 per share, 70% above its IPO price of $34. The CrowdStrike IPO has given the company a market capitalization of around $11.4 billion. The company was valued at over $3 billion last year following a $200 million venture capital funding led by General Atlantic. CrowdStrike filed a registration statement for the proposed IPO on May 14 and was expected to price its 18 million Class A shares at between $28 and $30 a share. Underwriters including Goldman Sachs, J.P. Morgan, Bank of America, Merrill Lynch and Barclays each received a 30-day option to purchase an additional 2.7 million shares.