- SolarWinds cut the size of its initial public offering.
- The IT-management-software maker sold 25 million shares at $US15 apiece, raising $US375 million.
- Shares will trade under the ticker “SWI.”
SolarWinds had a disappointing start to its time as a public company.
The IT-management-software maker cut the size and price of its initial public offering, announcing the pricing of 25 million shares at $US15 apiece. SolarWinds raised $US375 million through its share sale. Initially the company had expected to sell 42 million shares for between $US17 and $US19.
Shares are indicated to open between $US15.50 and $US16.50, according to Bloomberg.
Goldman Sachs, JPMorgan Securities, Morgan Stanley, and Credit Suisse Securities (USA) were the joint lead book-running managers for the offering.
Shares will begin trading on the New York Stock Exchange on Friday, under the ticker “SWI.”
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