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Digital optimization company Amplitude files for a direct listing on the Nasdaq

August 30, 2021

Amplitude, which provides customer behavior analytics for digital business optimization, filed on Monday to register its shares with the SEC and complete a direct listing on the Nasdaq. The company will not raise new capital as the Class A shares listed will be sold by existing shareholders. Amplitude did not disclose the initial tradable float, a reference price, or anticipated timing of its listing.

During the second quarter of 2021, about 146k shares were sold in private transactions at prices ranging from $21 to $25, with a VWAP of $22.70. If the company listed its shares at $22.70, Amplitude would command a fully diluted market value of $2.9 billion.

Amplitude states that it is pioneering a new category of software, called Digital Optimization. Its Digital Optimization System serves as the command center for businesses to connect digital products to business outcomes, consisting of integrated solutions Amplitude Analytics, Amplitude Recommend, and Amplitude Experiment.

The San Francisco, CA-based company was founded in 2011 and booked $129 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol AMPL. Amplitude filed confidentially on June 21, 2021. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Morgan Stanley, BofA Securities, Citi, KeyBanc Capital Markets, Baird, UBS Investment Bank, and William Blair will serve as financial advisors.