Cloudflare to offer 35 million shares in IPO priced at $10 to $12 each

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Cloud-network platform Cloudflare Inc. set terms for its planned initial public offering on Tuesday, saying in a regulatory filing that it plans to offer 35 million shares priced at $10 to $12 each. The company would raise $420 million at the top of that range. The company is planning to list on the New York Stock Exchange, under the ticker symbol “NET.” Goldman Sachs, Morgan Stanley and JPMorgan are lead underwriters on the deal with another eight banks acting as co-managers. Proceeds of the deal will be used to for general corporate purposes. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.