Cloud infrastructure platform HashiCorp prices IPO at $80
Cloud infrastructure platform HashiCorp prices IPO at $80, well above the range

                        
                        
                    
                        HashiCorp, which provides cloud infrastructure and data center management solutions, raised $1.2 billion by offering 15.3 million shares at $80, above the range of $68 to $72.The company states that its cloud operating model provides consistent workflows and a standardized approach to automating the critical processes involved in delivering applications in the cloud, including infrastructure provisioning, security, networking, and application deployment. Its products can be adopted individually and are also designed to work together as a stack. The company has built its products using an open-core software development model, and all of its products are developed as open-source projects. It sells proprietary, commercial software that builds on its open-source products with additional enterprise capabilities. HashiCorp's products are used by companies of all sizes and industries, and have been downloaded approximately 100 million times during the fiscal year ended January 31, 2021. As of October 31, 2021, the company had over 1,700 providers and integrations and more than 800 partners, including over 190 ISVs.HashiCorp plans to list on the Nasdaq under the symbol HCP. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, and Citi acted as joint bookrunners on the deal.
                    
                