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Rubrik’s April 2024 IPO raised $752 million in gross proceeds: 23.5 million Class A shares priced at $32 each. That headline is not the amount Rubrik retained. After underwriting discounts and commissions, the final prospectus reported about $710.264 million payable to the company before other offering expenses.
What did the $752 million headline measure?
It was the gross value of Rubrik’s initial offering: 23.5 million Class A shares multiplied by the $32 IPO price. Rubrik announced the pricing on April 24, 2024, and completed the offering on April 29. The company’s final prospectus reports the offering amount and proceeds to Rubrik.
The shares began trading on the New York Stock Exchange on April 25, 2024, under the ticker symbol RBRK, according to Rubrik’s pricing announcement.
How much did Rubrik receive from the initial offering?
The prospectus put proceeds to Rubrik at approximately $710.264 million before other offering expenses, after underwriting discounts and commissions. That is a different measure from the $752 million gross offering value: the gap reflects underwriting discounts and commissions, while the $710.264 million figure is still before other expenses.
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| Measure | Shares and price | Amount |
|---|---|---|
| Initial IPO gross proceeds | 23.5 million shares at $32 each | $752 million |
| Proceeds to Rubrik after underwriting discounts and commissions, before other expenses | Initial offering | Approximately $710.264 million |
What did the later share option add?
In May 2024, the underwriters exercised their option to buy an additional 3,472,252 shares at the original $32 IPO price. A subsequent company filing reported approximately $104.9 million in net proceeds from that option exercise. This was a later addition to the initial offering, not part of the $752 million headline for the original 23.5 million shares. The terms and reported net proceeds appear in a June 11, 2024 SEC-filed exhibit.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How does the IPO compare with Rubrik’s fiscal 2024 results?
The IPO proceeds and the company’s operating results are separate figures. For the fiscal year ended January 31, 2024, Rubrik reported $628 million in revenue and a $354.2 million net loss, according to IPO-related SEC disclosures cited by CRN. Those fiscal-year results do not describe IPO proceeds or establish the company’s current financial performance.
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