Coupa Shares Pop In Market Debut, Assuaging Fears Of a Down Round

Shares of Coupa Software were trading at $37 Thursday, far above the company's $18 issue price, in Coupa's market debut. Coupa sold 7.4 million shares to raise $133.2 million. With the shares trading up, Coupa rose above fears of a down round, bringing in a market capitalization of $1.78 billion. The company had a private market valuation of at least $1 billion. Morgan Stanley, J.P. Morgan, Barclays and RBC Capital Markets acted as the lead underwriters.