Benzinga | Sep 20, 2021 03:45PM EDT

Toast Targets $18B Valuation In Upsized US IPO

* Restaurant Software firm Toast Inc (NYSE:TOST) now plans to sell 21.7 million shares for $34 - $36 per share in an upsized initial public offering.

* The maximum offering proceeds could reach $782.6 million.

* The transaction could value Toast at 18 billion based on the expected 499.3 million Class A and Class B shares outstanding after this offering. Toast had previously planned to sell at $30 - $33 per share.

* Toast aims to list its stock on the NYSE under the symbol "TOST."