The first of a series of tech IPOs – Lyft debuted on Nasdaq today. With its stock priced at $72, Lyft is offering 32,500,000 shares of its Class A common stock, plus up to an additional 4,875,000 shares (raised $351 million in total).
The market cap excludes things like RSUs to be issued: 1) 77,390,807 shares of our Class A common stock reserved for future issuance under our equity compensation plans 2) 31,605,338 shares of our Class A common stock subject to RSUs outstanding, but for which the time-based vesting condition was not satisfied as of December 31, 2018 (including 15,065,349 shares of our Class A common stock subject to RSUs granted after December 31, 2018) 3) 7,037,379 shares of our Class A common stock issuable upon the exercise of options to purchase shares of our Class A common stock outstanding as of December 31, 2018 (weighted average $4.74 exercise price)