CBRS · Cerebras Systems Inc.

Cerebras Systems Inc. completed its initial public offering on May 15, 2026, selling 34.5 million shares of Class A Common Stock at $185.00 per share, including the full exercise of the underwriters' option for an additional 4.5 million shares. The gross proceeds totaled $6.4 billion, before underwriting discounts and estimated offering expenses. Concurrently, the company filed an amended and restated certificate of incorporation and bylaws, which became effective upon the closing of the IPO. These documents establish a multi-class common stock structure: Class A Common Stock (1 vote per share), Class B Common Stock (20 votes per share), and Class N Common Stock (no voting rights). The IPO provides significant capital to fund operations and growth initiatives. The charter amendments also include provisions for director nominations and stockholder proposals, aligning with typical post-IPO governance practices.