Bending Spoons SpA (NASDAQ:BSP) shares are trending on Wednesday night.
Shares of the Italian technology conglomerate surged 2.04% to $41.32 after the bell, building on a 39.66% jump during its first regular trading session.
Why the Stock Jumped
Bending Spoons priced its U.S. initial public offering at $29 per share on Tuesday, above its targeted range of $26 to $28. The offering raised $1.68 billion and valued the company at about $18.4 billion, well above its $11 billion valuation from a 2025 funding round. Shares began trading under the ticker “BSP.”
According to Benzinga Pro data, BSP closed at $40.50 on Wednesday, with trading volume reaching 17.37 million shares.
Bending Spoons has been acquiring underperforming software firms and restructuring them, building a portfolio that includes Vimeo, AOL, Evernote, WeTransfer, Brightcove and Meetup.
CEO Explains Acquisition Formula
On Wednesday, CEO Luca Ferrari told Fox Business, “We win when we improve the business we acquire,” adding that the company looks for opportunities “where that opportunity is the greatest.” He said Bending Spoons deploys internal task forces to study each acquisition before building a turnaround plan.
Goldman Sachs Group Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM) and Allen & Co. led the deal.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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