The Briefing: Toast Sets Terms For Massive IPO, BitSight Closes $250M Deal, And More
Summary
Toast sets range for IPO at valuation around $16.5B Toast, a provider of software for restaurant payments processing and other functions, set a range of $30 to $33 per share for its upcoming initial public offering. As part of the deal, BitSight also acquired New York-based VisibleRisk, a cyber risk ratings joint venture created by Moody’s and Team8. Founded in 2011, BitSight helps customers understand cyber risk through ratings, analytics and management tools. Berlin-based Formo, an agtech startup developing animal-free dairy products using nature-identical milk proteins derived from precision fermentation, announced that is has closed a $50 million Series A funding round led by Elevat3 Capital and Lowercarbon Capital. At the midpoint of that range, the company would reportedly have a market value around $9.6 billion and bring in $855 million through the offering.
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