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UiPath submitted the documentation for an IPO on the New York Stock Exchange

UiPath, the first Romanian unicorn, submitted on Friday the documentation for an initial public offering (IPO) on the New York Stock Exchange.

Under the ”PATH” symbol, the company aims to get a billion dollars, although the value of the amount will probably change, MarketWatch and Reuters reported.

A group of 22 banks, led by Morgan Stanley and JP Morgan, subscribe to the transaction.

The earnings from NYSE listing will be used for corporate purposes, which could include acquisitions, the New York-based company said.

UiPath reported a loss of $ 92.40 million in 2020, lower than the previous year’s loss of $ 519.90 million.

Revenue rose to $ 607.60 million from $ 336.2 million.

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