The IPO pricing of $1.68 billion for Bending Spoons, the parent company of AOL, is higher than the guidance range.

Internet pioneer AOL's parent company Bending Spoons has announced that its initial public offering is priced higher than the guided range, with a valuation of around $18 billion. The Italy-based company stated that the IPO raised a total of $1.68 billion, priced at $29.00 per share, above the guided range of $26.00-$28.00. Bending Spoons also owns ticketing platform Eventbrite and video platform Vimeo. Of the nearly 58 million shares issued in this offering, the company sold 34.4 million shares, with the remaining shares being sold by existing shareholders. Analysts at S&P Global Ratings stated in a recent report that a successful IPO will provide new funding for this acquisition-focused tech company to support its credit profile through more mergers. Bending Spoons has acquired AOL, Eventbrite, and Vimeo for over $3.3 billion since November of last year. The company's stock is expected to begin trading on the Nasdaq Global Select Market on Wednesday, with the offering expected to be completed the following day.