The technology IPO wave is coming back! Netskope (NTSK.US) priced its IPO at $19 per share, raising $900 million. It will debut on the Nasdaq tonight.

Netskope Inc., a cybersecurity company supported by Lightspeed Venture Partners, successfully raised $908.2 million in its initial public offering (IPO) in the United States at the upper limit of the offering price range of $19 per share. According to a announcement released on Wednesday, the California-based company sold 47.8 million shares at a price of $19 per share. Prior to the offering, the company had increased the price range to $17-19 per share. The IPO, based on the number of shares calculated in the filings submitted to the U.S. Securities and Exchange Commission (SEC), valued Netskope at approximately $7.3 billion. It was reported on Tuesday that the demand for the IPO exceeded the offering by about 20 times. This listing marks the return of the IPO frenzy in the tech industry - with the stock market continuing to rise driven by strong demand for artificial intelligence (AI), surpassing concerns about tariffs and a soft labor market. Compiled data shows that as of now, the tech industry has raised $12 billion through IPOs this year (excluding Netskope and financial vehicles such as blank check companies), an increase of nearly 80% from the same period last year. Last week, software manufacturer Via Transportation Inc. (VIA.US) and cryptocurrency exchange operator Gemini Space Station Inc. (GEMI.US) both saw their stock prices rise on the first day of trading (both offering prices were above their original ranges), however Gemini's stock price has since fallen below the offering price. Financial data previously disclosed by Netskope shows revenue growth and narrowing losses. The filings show that in the six months ending on July 31, the company achieved revenue of $328.5 million and a net loss of $169.5 million; compared to revenue of $251.3 million and a net loss of $206.7 million in the same period last year. The company, founded in 2012, integrates AI models through its cloud-native platform Netskope One to help enterprise customers prevent threats and secure sensitive data. Clients of the company include companies such as Procter & Gamble (CL), Home Depot, Inc. (HD.US), and Bayer (BAYRY.US). Furthermore, according to the filings, after the IPO, Lightspeed will hold the largest voting rights with a 19.2% stake, followed by Iconiq Capital with 19.1% and Accel Partners with 8.8%. The offering is being led by Morgan Stanley and JPMorgan. The company's stock is expected to begin trading on the Nasdaq Global Select Market on Thursday under the ticker symbol "NTSK."