Olo Inc, a cloud-based commerce platform, has filed Amendment No 2 to Form S-1 Registration Statement on March 9, 2021 with the U.S. Securities and Exchange Commission to raise the proposed IPO price range to $20 to $22, previously the proposed price range was $16 to $18.
The company plans to raise $378 billion by offering 18 million shares. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $3.8 billion.
The company enabling digital ordering and delivery, while further strengthening and enhancing the restaurants’ direct consumer relationships.
The New York-based company was founded in 2005 and booked $98 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol “OLO.” Goldman Sachs, J.P. Morgan, and RBC Capital Markets are underwriters of the IPO.
The company engages Cooley LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.
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