Lacework Sees a Significant Drop in Common Share Price in July 2023

Lacework, Inc. has developed a Cloud Security Platform that addresses the speed, scale, and automation of the cloud. The platform’s technology backbone combines active cloud resource monitoring, advanced analytics, and smart visualization. It is also a component in the Prime Unicorn Index benchmark, the standard bearer for private markets benchmarking.

Lacework raised $1.3 billion in its last preferred round of Series D in November 2021, with participation from Tiger Global, Altimeter Capital, D1 Capital Partners, Franklin Templeton, and others which valued the company at approximately $6.6 billion on a post-money valuation basis at a preferred price per share of $25.09. Since its last financing, the company has filed two Employee Plan Exemption Notices with the state of California. The last two government filings indicated its common shares were priced at $8.77 per share (January 4, 2022) and $3.66 per share (Filed May 18, 2023; effective July 7, 2023), indicating a 58.27% decrease in the value of its common shares that were granted to company executives.

This common share price discount could signal a significant decrease in the company’s valuation. Applying this discount to the valuation would drop it to $2.7 billion, a notable drop from its previous valuation of $6.6 billion.

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