Ping Identity IPOs. The cybersecurity company and Denver unicorn began trading on the New York Stock Exchange on Sept. 19. During the initial public offering, the company listed 12,500,000 shares of its common stock at $15 per share. The stock is being traded with “PING” as its ticker symbol. [Press release]
Matchstick Ventures announced $30 million fund to invest in startups. This will be the second major fund for the venture capital firm. Matchstick partner Natty Zola told Built In that the firm is looking to invest the money in Colorado- and Minnesota-based entrepreneurs. [Built In Colorado]
NASA partnered with Boulder-based Advanced Space. NASA awarded a $13.7 million contract to Advanced Space to operate a satellite that will orbit the moon. The contract will help NASA plan for its Gateway mission, which will send a spaceship to the moon to act as a permanent station. [Built in Colorado]
Front Range Biosciences raised $8.5 million in funding. FRB is an agricultural biotech company that uses tissue culture propagation to breed and clone high-value crops like coffee, hemp and cannabis. FRB’s genetic research will help innovate in the cannabis growing space, and the company hopes to use this new funding to expand its efforts. [Press release]
Denver will raise the minimum wage earlier than expected. Denver Mayor Michael Hancock and City Councilwoman Robin Kniech announced that they are moving forward with a law that would require Denver-based employers to pay their employees a minimum of $13.80 per hour. The requirement would go into effect Jan. 1, 2020. Then, it would increase again to $15.87 per hour in 2021. The current Denver minimum wage is $11.10 per hour. [Denver Business Journal]
