Friday, April 20, 2018

Pivotal Prices IPO, To Trade Today

Pivotal Software--the Agile software development firm backed by Michael Dell--priced its IPO late Thursday evening, saying it will sell 37,000,000 shares of its Class A common stock at $15.00 per share. The company priced at the midpoint of its estimated initial public offering range, which was $14.00 to $16.00 per share. Pivotal will start trading this morning on the New York Stock Exchange as PVTL. The Silicon Valley company is 80.8% owned by Michael Dell, including both his individual ownership and companies he controls.