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ServiceNow, Inc. (NYSE:NOW) filed an amendment Friday to its prospectus supplement related to the resale of shares by certain stockholders who acquired them through the company’s acquisition of Logik.io Inc. The amendment covers the issuance of an additional 609 shares of common stock, reflecting a post-closing price adjustment as specified in the merger agreement.
The company’s filing with the Securities and Exchange Commission states that these shares may be resold from time to time by the stockholders. The amendment updates the effective registration statement on Form S-3ASR (File No. 333-279150) to include the new shares.
A legal opinion from Freshfields US LLP regarding the validity of the shares was included as an exhibit to the filing.
This information is based on a statement in the company’s press release and SEC filing.
In other recent news, ServiceNow has launched its new Zurich platform, introducing enhanced AI capabilities aimed at improving enterprise security and autonomous workflows. This update includes developer tools that allow for "vibe coding," enabling employees to create applications using conversational language. In a strategic move to boost AI adoption, ServiceNow has offered federal agencies discounts of up to 70% on its software, as part of a OneGov agreement with the U.S. General Services Administration. This deal is expected to enhance workflow efficiencies in federal operations by up to 30%.
Truist Securities has reiterated its Buy rating for ServiceNow, maintaining a price target of $1,200, while addressing concerns about AI’s impact on the company’s growth model. Stifel has also reiterated its Buy rating, highlighting an uptick in ServiceNow’s federal business performance this quarter. These recent developments indicate a focus on leveraging AI technologies and expanding federal business operations.
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