The GV-backed restaurant organisation platform developer has issued $130m in additional shares to close its IPO and has a market capitalisation above $28bn.

Toast, the US-based restaurant management software provider backed by internet and technology conglomerate Alphabet, closed its initial public offering at $1bn on Friday.

The company had priced a little over 21.7 million shares at $40.00 each last week. Its shares closed at $59.00 on Thursday and $55.81 on Friday, giving it a market capitalisation of just over $28bn.

Lead book-running managers Goldman Sachs, Morgan Stanley and JP Morgan, book-running managers KeyBanc Capital Markets, William Blair and Piper Sandler…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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