Via Transportation prices NYSE IPO above range
Via Transportation priced its NYSE IPO to raise an upsized US$492m late on Thursday, to replenish its coffers and let existing investors partially cash out.
In a sign of investor appetite for the software offering, joint bookrunners Goldman Sachs, Morgan Stanley, Allen & Co and Wells Fargo priced the sale of 10.7m shares at US$46, above the US$40–$44 range marketed.
The deal, in which Via offered 7.1m shares and existing shareholders the rest, was multiple times subscribed, a banker on the deal said. Management led by CEO Daniel Ramot as well as venture backers Pitango Venture Capital and Hearst Communications are among the sellers.
Helping ease the lift, Wellington Management committed upfront to invest US$100m in the offering.
Via, which started out as a ride-hailing company but transitioned in 2021 to logistical software used by municipalities and universities to manage transportation, posted negative US$40.5m of adjusted Ebitda on revenues of US$380.8m in the last 12 months, despite growing the topline at a 26.5% clip in H1 2025 to US$205.8m.
Annual run-rate revenues as of June 30 grew by 34.5% to US$429m.