Cloudflare NET, +0.89% disclosed Wednesday that the expected pricing of its initial public offering has increased to $12 to $14 a share from a previous range of $10 to $12 a share. With the cloud-based network platform company offering 35 million shares in the IPO, that increases what the company expects to raise in the IPO by $70 million to up to $490 million. The company’s last funding valued the company at over $3 billion. Cloudflare had first filed its S-1 form for and IPO with the Securities and Exchange Commission on Aug. 5. The company is looking to go public at a time the Renaissance IPO ETF IPO, -0.82% has slipped 2.5% over the past three months and the S&P 500 SPX, +0.03% has gained 3.3%.