NEW YORK, July 1, 2026, 16:05 EDT
- Bending Spoons S.p.A. NASDAQ:BSP was quoted at $41.42 at 15:57:59 EDT, 42.8% above its $29 IPO price, after a $30.70-$43.98 day range.
- The base IPO sold 57.97 million ordinary shares; the company sold 34.40 million and existing holders sold 23.57 million.
- At the late quote, the base block was worth about $2.40 billion, roughly $720 million above the offer price, by calculation from the offer terms and quote.
Regular Nasdaq stock trading had just ended at the dateline time. Nasdaq lists its main stock market hours from 9:30 a.m. to 4 p.m. ET and its 2026 calendar marks July 3, not July 1, as the Independence Day market closure.
Bending Spoons S.p.A. NASDAQ:BSP, the Milan-based owner of AOL, Vimeo, Evernote and WeTransfer, jumped in its first U.S. session Wednesday. The stock was quoted at $41.42 at 15:57:59 EDT, up 42.8% from its $29 offer price. The quote followed a $30.70-$43.98 day range.
The share split in the deal is the cleaner investor read. Bending Spoons and existing holders sold 57,971,015 shares at $29. The company sold 34,398,640 shares; existing holders sold 23,572,375. Bending Spoons said it would not get any proceeds from the seller shares.
| Base IPO block | Shares | Value at $29 IPO price | Value at $41.42 late quote | Difference |
|---|---|---|---|---|
| Company shares | 34.399 mln | $997.6 mln | $1.425 bln | $427.2 mln |
| Existing-holder shares | 23.572 mln | $683.6 mln | $976.4 mln | $292.8 mln |
| Total | 57.971 mln | $1.681 bln | $2.401 bln | $720.0 mln |
That matters because the seller block was 40.7% of the base deal, not a small clean-up sale. The company’s new public price also gives investors a live mark for a serial acquirer whose pitch depends on buying older internet assets and improving them fast.
“We have found over 1,000 companies that we believe are reasonable acquisition targets in the foreseeable future,” CEO Luca Ferrari said. “We’re not in a position to announce anything, but we’re very active.” Reuters
The operating data gives the bulls numbers to work with. Filing data cited by Fortune showed first-quarter revenue more than doubled to $601.3 million from $258.9 million a year earlier, while net income swung to $27.5 million from a $112.2 million loss. Subscriptions made up 93% of 2025 sales.
| Operating metric | Earlier period | Latest disclosed period | Change |
|---|---|---|---|
| Revenue | Q1 2025: $258.9 mln | Q1 2026: $601.3 mln | +132% |
| Net income | Q1 2025: -$112.2 mln | Q1 2026: $27.5 mln | +$139.7 mln swing |
| Monthly active users | Dec. 2023: 111 mln | March 2026: 500 mln | 4.5x |
| Monthly paying customers | Dec. 2023: 3 mln | March 2026: 9 mln | 3.0x |
Debt is the check on that pitch. AP reported Bending Spoons had debt of just under $4.4 billion and plans to use proceeds from the offering to invest in new acquisitions.
“It’ll definitely be a data point for the software industry, but that may simply be due to the scarcity of deals here,” said Matt Kennedy, senior strategist at Renaissance Capital. “Bending Spoons has a very different profile compared to most software IPOs in the pipeline.” Reuters
Tim Schumacher, founder of software acquirer saas.group, put the risk more bluntly: “The real test is whether an emotionless, debt-fueled software factory can survive a full economic cycle — not just a strong few years on a friendly macro tailwind.” Reuters
The underwriters have a 30-day option to buy up to 5.24 million more ordinary shares from Bending Spoons and up to 3.45 million more from selling holders at the IPO price, less underwriting discounts and commissions.
