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SimilarWeb sets IPO terms, expects to price between $19 and $21 per share

Economy, Finance

SimilarWeb has set its IPO terms, the company announced Monday, and expects to price between $19 and $21. SimilarWeb is selling 7.5 million shares, with the chief executive, Or Offer, selling an additional 500,000. That would value the Tel Aviv-based digital data analytics company at more than $1.5 billion at the pricing midpoint. The stock is expected to list on the NYSE under the symbol “SMWB.” J.P. Morgan, Citigroup, Barclays and Jefferies are acting as lead underwriters for the IPO. The Renaissance IPO ETF has fallen 3.4% for the year to date while the S&P 500 index is up 11.3% for the period.

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