Warren Buffett's Berkshire Hathaway is set to plow more than $550 million into Snowflake when the cloud-data company goes public | Markets Insider

Warren Buffett's Berkshire Hathaway is set to invest more than $550 million in Snowflake when it goes public, according to the cloud-data group'sThe billionaire investor's company will buy about 3.1 million Class A shares in a private placement, and purchase another 4 million shares from former Snowflake CEO Robert Muglia.

Buffett's company has also agreed to buy another 4 million Class A shares from former Snowflake CEO Robert Muglia in a secondary transaction, paying the IPO price for each share. That could cost it $303 million to $344 million based on the expected price range.

If both purchases go through, Berkshire might spend upwards of $550 million for more than 7 million shares, representing about 26% of the 28 million Class A shares that Snowflake plans to offer. That stake could fall to around 22% if the underwriters of the IPO sell their allotted shares and fully exercise their option to buy an additional 4.2 million Class A shares.

Salesforce has also agreed to purchase $250 million of Snowflake stock through its strategic venture arm, Salesforce Ventures, the filing shows.

so when does Snowflake actually go public? Thx

654,632,027,647.81원

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Warren Buffett cuts Wells Fargo stake, chart shows 30-year investment - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Warren Buffett Is Betting on Japanese Stocks. Here’s How You Can Too.His $6 billion investment highlights the opportunities to be found in an inexpensive Japanese stock market. Warren is comfortable with how Japan controls it’s media and doesn’t talk about how it treats the world’s whales and dolphins Business as usual. China is a better bet. wonder why
La source: MarketWatch - 🏆 3. / 97 Lire la suite »