Monday, May 18, 2009

All Eyes On Solarwinds IPO

Austin-based SolarWinds is looking to break the venture-backed IPO drought, and is set to debut on Wednesday on the NYSE. If so, the firm will be the first IPO of a venture capital-backed firm since San Antonio-based Rackspace had its IPO in August of last year. SolarWinds has said it plans to sell 12,116,279 shares of its common stock at between $9.50 and $11.50 per share, trading on the NYSE as SWI. The firm's IPO is being underwritten by J.P. Morgan, Goldman Sachs, Morgan Stanley, Jeffries & Company, Thomas Weisel Partners, and Ladenburg Thalmann. SolarWinds is a developer of network management software, and is backed by Insight Venture Partners and Bain Capital.