Toast sets IPO terms, to be valued at up to $16.5 billion – MarketWatch

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Toast Inc.
TOST,

has set the terms of its initial public offering, in which the Massachusetts-based restaurant payment processor looks to raise up to $717.4 million and be valued at up to about $16.5 billion. The company is offering 21.74 million Class A shares in the IPO, which is expected to price between $30 and $33 a share. The stock is expected to list on the NYSE under the ticker symbol “TOST.” The company expects to have 21.74 million Class A shares outstanding after the offering and 477.59 million Class B shares. Goldman Sachs, Morgan Stanley and J.P. Morgan are the lead underwriters. The company recorded …

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