Benzinga | Jul 28, 2021 05:49AM EDT

Duolingo Prices IPO Above Estimated Price At $102 Per Share, Trading Begins Today

* Mobile language learning platform Duolingo, Inc (NASDAQ:DUOL) priced 3.7 million shares at $102 per share in its initial public offering.

* The estimated gross proceeds are $377.4 million.

* The offer price has exceeded the estimated price range of $95-$100.

* Selling stockholders are offering 1.4 million shares.

* The underwriters have a 30-day option to purchase an additional 0.8 million shares.

* Duolingo will not receive any proceeds from the sale of shares by the selling shareholders.

* Duolingo is likely to begin trading on the Nasdaq under the symbol "DUOL" today.