Number of shares outstanding - incorrect data
Hello, the ticker EXFY has the number of shares outstanding at 67.3 million https://seekingalpha.com/symbol/EXFY/overview
When I check their IPO prospectus, they expect to have 80.9 million shares outstanding after the offering. At current price of $40, the market cap should therefore be $3.2 billion.
What is the source of the 67.3 million shares? Thank you.
Hi,
If you look at the prospectus ( link below), page 13
https://www.sec.gov/Archives/edgar/data/0001476840/000162828021022947/expensify424b4.htm
67,347,706 shares is the Class A common stock that is outstanding. LT10 and LT50 common stock is convertible into one share of Class A common stock only upon satisfaction of certain notice. hence only Class A common stock's share outstanding figure is being taken into consideration which is 67.3 million shares and not total which is 80.9 million shares.
Hope this helps! Feel free to reach out in case further assistance is required.
Regards,
Shubham Shresth
Data QA Analyst, Seeking Alpha