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Digital optimization company Amplitude selects September 28 for Nasdaq direct listing date

September 13, 2021

Amplitude, which provides customer behavior analytics for digital business optimization, is expected to begin trading on the Nasdaq on Tuesday, September 28, 2021. In its latest filing, the company also disclosed the number of Class A shares to be sold by existing shareholders.

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The Registered Stockholders plan to sell up to 35.4 million Class A shares. The company is holding an Investor Day on Tuesday, September 14, at 1:00pm EST.

During the third quarter of 2021 (through September 10), about 177k shares were sold in private transactions at prices ranging from $21 to $43.57, with a VWAP of $35.41. If the company listed its shares at $35.41, Amplitude would command a fully diluted market value of $4.6 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.

None of the company's shareholders will be subject to the standard 180-day lock-up agreement found in most IPOs.

Amplitude 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. 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.