Friday, October 19, 2018

SolarWinds Prices IPO, Starts Trading Today

Austin-based SolarWinds priced its IPO last night at $15.00, after it abruptly lowered its estimated IPO range on Thursday to between $15.77 and $16.00 per share, well below its original estimated IPO range of $17.00 to $19.00 per share. The company raised $375M in the IPO, selling 25 million shares of its common stock. SolarWinds develops IT management software. The company is trading this morning on the New York Stock Exchange as SWI.