Slack nearly doubles expected funding from IPO, changes planned ticker

Slack Technologies Inc. said late Monday it expects to raise nearly double the amount it had previously indicated in its initial public offering and changed its proposed ticker symbol. In a filing with the Securities and Exchange Commission, the messaging app company said it plans to raise up to $196.5 million in its IPO, up from a previous "placeholder" figure of $100 million, and registered nearly 117 million shares of stock, a detail missing from its previous S-1 filing in late April. Slack also said it changed its proposed NYSE-ticker symbol to "WORK" from "SK."