SailPoint (SAIL) said early Thursday it priced upsized its initial public offering of 60 million shares at $23 apiece.
The shares will likely begin trading on the Nasdaq Global Select Market on Feb. 13 under the "SAIL" ticker. The offering will probably close on Feb. 14.
The cybersecurity firm plans to issue and sell 57.5 million shares, and certain existing stockholders will offload the remaining 2.5 million. On Feb. 4, SailPoint launched its roadshow for an IPO of 50 million shares, and it expected a pricing of between $19 and $21 per share.
SailPoint has granted underwriters a 30-day option to purchase up to 9 million additional shares.
The net proceeds will be used to repay a portion of its term loan, settle outstanding equity awards and appreciation rights, and pay the outstanding fees under the advisory services agreement with Thoma Bravo.
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