The Initial Public Offering (IPO) of Raspberry Pi is now set for June 2024, and $40 million is expected to be raised.

The confirmation was published by the London Stock Exchange, itself likely delighted to be listing the company considering the fall of its share of funds raised in IPOs in Europe.

According to the filing, the net proceeds from that $40 million will be used for engineering capital expenditures, making the supply chain more resilient and "other general corporate purposes."

The $40 million will consist of existing shares sold by certain shareholders, including a subsidiary of the Raspberry Pi Foundation, and new shares to be issued by the company. At the time of the original announcement, Pi supremo Eben Upton paid tribute to the Foundation and said, "This IPO brings the opportunity to double down on their outstanding work to enable young people to realise their potential through the power of computing."

Upton added: "We've hugely appreciated their support on our journey so far and are delighted that the Foundation will remain a major shareholder."

Today's confirmation also states that Arm Technology Investments has entered into a separate cornerstone investment agreement to purchase $35 million shares in the IPO. Lansdowne Partners (UK) LLP has agreed to purchase up to a maximum of $20 million shares. Both are existing shareholders in the company; Arm snagged a minority stake in 2023.

Paul Williams, a senior vice president at Arm, said: "Following our strategic investment in the business last year, we look forward to increasing our stake as Raspberry Pi steps into this new exciting chapter."

Peter Davis, a partner at Lansdowne Partners, commented: "Since our initial investment three years ago, we have been incredibly impressed by the team and everything they have achieved with the business, and we are very excited about both the commercial and social impact they can continue to deliver in the future." ®

https://www.theregister.com//2024/05/22/raspberry_pi_ipo_set_for_june_2024/