Unity Software raises expected pricing of IPO, lifting what it could raise to up to $1.2 billion

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Unity Software Inc. raised on Wednesday the expected pricing of its initial public offering to $44 to $48 a share from $34 to $42 a share. With the new expected pricing, the San Francisco-based company, which makes software to create videogames, could raise up to $1.20 billion and be valued at up to $12.64 billion. Goldman Sachs and Credit Suisse are the lead underwriters. The raised expected pricing comes at a hot time for software IPOs, with shares of Snowflake Inc. , the biggest-ever software IPO, set to begin trading Wednesday, after its IPO price above expectations. The Renaissance IPO ETF has run up 25.0% over the past three months while the S&P 500 has gained 8.9%.
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