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Pivotal IPO: 5 things to know about the cloud software company

Cloud software has been a hot sector for initial public offerings, but now we will see how Wall Street feels about cloud software used to make more cloud software.

Pivotal Software Inc. PVTL, +0.00% announced early Friday that it would sell at least 37 million shares in its IPO at a price of $15, the midpoint of the expected price range of $14 to $16. That price values the software company at $3.75 billion based on shares outstanding as of the offering, and will raise at least $555 million in proceeds. Pivotal will receive the bulk of the proceeds, but General Electric Co.

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