Be ready for the Cerebras Systems IPO
Cerebras Systems, an AI chipmaker, filed for an initial public offering (IPO) in September 2024, aiming to list on Nasdaq under the ticker symbol “CBRS.” Start your analysis today with Daloopa.
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Cerebras Systems IPO Schedule
Filing Date
Cerebras Systems filed its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on September 30, 2024, signaling its intent to go public. However, the IPO date has become uncertain due to a Committee on Foreign Investment in the United States (CFIUS) review.
Roadshow Dates
Specific dates for Cerebras’ IPO roadshow have not been publicly disclosed. Typically, such roadshows occur in the weeks leading up to the IPO to attract potential investors.
Pricing Date
The final IPO price is expected to be determined shortly before the listing date, following the completion of the roadshow and investor consultations. However, no specific pricing date has been announced.
Listing Date
Cerebras plans to list its shares on the Nasdaq Global Market under the ticker symbol “CBRS.” While an exact listing date has not been officially confirmed, reports suggest that the IPO is anticipated to take place in the first quarter of 2025.
Closing Date
The IPO offering period is anticipated to close shortly after the listing date, once all allotted shares have been sold and transactions settled. However, no specific closing date has been confirmed.
Additional Information
Underwriters
Cerebras has selected major financial institutions to lead its IPO, including Citigroup and Barclays. Other underwriters mentioned in some reports include UBS Investment Bank, Wells Fargo Securities, and Mizuho Financial Group, though these are not universally confirmed.
Use of Proceeds
The funds raised from the IPO are expected to be utilized for expanding manufacturing capabilities, investing in research and development, enhancing sales and marketing efforts, and potentially pursuing strategic acquisitions.
Major Shareholders
Key stakeholders in Cerebras Systems include Andrew Feldman, the co-founder and CEO, and venture capital firms such as Benchmark Capital and Foundation Capital. Strategic investors include firms like Altimeter Capital and Coatue Management.
Valuation
Cerebras is targeting an IPO to raise up to $1 billion, potentially valuing the company between $7 billion and $8 billion. The last confirmed private valuation was $4 billion based on a Series F funding round in November 2021.
Oversubscription
Information regarding potential oversubscription of Cerebras’ IPO will become available closer to the offering date, based on investor demand during the roadshow.
CBRS Valuation & Financials
Valuation Metrics
Pre-IPO Valuation
As of September 2024, Cerebras is targeting a valuation between $7 billion and $8 billion in its upcoming IPO.
Price-to-Earnings (P/E) Ratio
Specific P/E ratio information is not available, as Cerebras remains a privately held company and has reported net losses in recent periods.
Enterprise Value
The enterprise value is estimated to be in the range of $7 billion to $8 billion, aligning with the company’s targeted IPO valuation.
Financial Statements
Revenue
In 2023, Cerebras reported revenues of approximately $78.74 million, a significant increase from $24.62 million in 2022.
Net Income
The company reported a net loss of $127.16 million in 2023, an improvement from a net loss of $177.72 million in 2022.
Cash Flow and EBITDA
Detailed information on cash flow and EBITDA is not publicly available.
Cerebras Systems IPO Prospectus
Link to SEC Filings
Cerebras’ S-1 filing can be found here: Cerebras Press Release
Summary of Prospectus Key Points
- IPO Date: Expected in the first quarter of 2025
- Ticker Symbol: CBRS.
- Share Price: To be determined.
- Valuation: Targeting $7 billion to $8 billion.
- Use of Proceeds: Expansion of manufacturing, R&D, sales, and potential acquisitions.
Cerebras Systems Market Cap
Cerebras’ market capitalization will be determined once the IPO is completed and the shares commence trading. The pre-IPO valuation was $4 billion, with the IPO aiming to increase this to between $7 billion and $8 billion.
Cerebras Systems Stock Price
As a privately held company, Cerebras does not have a publicly traded stock price. Post-IPO stock performance will be monitored upon listing. Private transactions have occurred at around $43 per share on some platforms, but these are not indicative of future public trading prices.
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