Monday, October 8, 2018

SolarWinds Sets Estimated IPO Pricing Range

Austin-based SolarWinds has set an estimated IPO range of $17.00 to $19.00 per share, and is getting set to hit the market next week. In materials provided to investors last week, SolarWinds said it is seeking to sell 42,300,000 shares of its stock, which at $19.00 per share would raise $917,700,000 for the company. SolarWinds says it has applied to list on the New York Stock Exchange (NYSE) under the symbol SWI. The company's IPO is being underwritten by Goldman Sachs, J.P. Morgan, Morgan Stanley, Credit Suisse, plus BofA Merrill Lynch, Barclays, Citigroup, Evercore ISI, Jeffries, Macquarie Capital, Nomura, and RBC Capital Markets. the company's two biggest institutional investors are private equity investors Thoma Bravo and Silver Lake. SolarWinds is expecting pricing on its IPO on October 18th, 2018, after close of market.