Cerebras Systems, Inc. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission and is launching a roadshow in connection with an initial public offering of its Class A common stock. The company said it plans to offer 28,000,000 shares to the public in the proposed transaction.
The proposed price range for the initial public offering has been set between $115.00 and $125.00 per share. In addition to the base offering, Cerebras has agreed to grant the underwriters a 30-day option to purchase up to an additional 4,200,000 shares of Class A common stock.
Cerebras has applied to have its Class A common stock listed on the Nasdaq Global Select Market under the ticker symbol "CBRS." The filing and application are part of the standard process for taking a company public and outline the terms of the offering and the parties involved in executing the transaction.
The syndicate leading the transaction will be headed by Morgan Stanley, Citigroup, Barclays and UBS Investment Bank, who will serve as lead book-running managers. Two additional firms, Mizuho and TD Cowen, are slated to act as bookrunners for the offering.
A group of co-managers will support the deal execution. Those firms named as co-managers are Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt, Academy Securities, Credit Agricole CIB, MUFG and First Citizens Capital Securities.
The registration statement and the described arrangement establish the structure of the public offering, the range within which the company expects to price its shares, and the underwriting framework that will manage distribution to investors. The inclusion of an overallotment option provides the underwriters the ability to purchase additional shares within a 30-day window following the offering, increasing the maximum potential size of the deal above the base 28,000,000-share amount.
All of the details above are drawn from the company filing and the statements included therein. The filing specifies the number of shares in the proposed offering, the expected price range per share, the additional allotment option, the targeted exchange and ticker, and the firms participating in book-running and co-managing roles.
Offer mechanics at a glance
- Shares proposed: 28,000,000 Class A common stock
- Expected price range: $115.00 to $125.00 per share
- Underwriters' 30-day option: up to 4,200,000 additional shares
- Planned listing: Nasdaq Global Select Market, ticker symbol CBRS
- Lead book-running managers: Morgan Stanley, Citigroup, Barclays, UBS Investment Bank
- Bookrunners: Mizuho, TD Cowen
- Co-managers: Needham & Company, Craig-Hallum, Wedbush Securities, Rosenblatt, Academy Securities, Credit Agricole CIB, MUFG, First Citizens Capital Securities
The information above reflects the contents of the Form S-1 filing and the company's stated intentions for the proposed public offering and listing. It outlines the scale of the offering, the expected pricing range, the syndicate structure, and the administrative arrangements for potential additional share issuance within the specified overallotment period.