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Palantir Confidentially Files To Go Public

palantir july07 lt

Palantir Technologies Inc., the Silicon Valley big data analytics company that has handled U.S. government's certain sensitive projects, said it has confidentially filed documents with the Securities and Exchange Commission to go public.

In a statement, the company said the proposed public listing of its Class A common stock is expected to take place after the SEC completes its review process.

Meanwhile, in a filing with the SEC last week, the startup said its raised $549.73 million and plans to sell $411.37 million worth of shares further. The total offering would be $961.10 million worth of stock.

There were reports in June that the company was planning to file a registration statement for an IPO with the SEC as soon as September.

Palo Alto, California-based Palantir sells software to aggregate big data for governments and corporations across the world. It was co-founded in 2004 by billionaire Peter Thiel.

In its most recent fundraising round in 2015, Palantir was valued at about $20 billion. Amid the COVID-19 pandemic, the company is working with a number of countries to trace the spread of the virus and manage the production of critical medical supplies, Reuters reported.

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