CoreWeave is planning to reduce the size of its US initial public offering and price shares below range, a person familiar with the matter told Reuters on Thursday.
The scaled-back offering marks a setback for what was poised to be one of the most prominent listings this year.
The Nvidia-backed cloud services company aims to cut the IPO size to 37.5 million shares and price it at $40 each, the source said. The sale would fetch up to $1.5 billion.
It had initially targeted to sell 49 million shares, along with some investors, at a price between $47 and $55 each.
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