Benzinga | Jun 30, 2021 09:10AM EDT

MongoDB Raises ~$900M Via Upsized Secondary Equity Offering At 6.2% Discount

* MongoDB Inc (NASDAQ:MDB) priced 2.5 million shares at $365 per share in an upsized secondary public offering.

* The offering price signifies a 6.2% discount to the Monday closing price of $389.23.

* The estimated proceeds are $889 million.

* The company previously offered to sell 2.3 million shares.

* The proceeds will serve general corporate purposes.

* Morgan Stanley and Goldman Sachs & Co. LLC are the joint book-running managers for the offering.

* Price action: MDB shares traded lower by 5.4% at $363 in the premarket session on the last check Wednesday.