Smartsheet sets IPO terms, to offer up to $139.6 million worth of shares

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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    Smartsheet Inc. set terms of its initial public offering, in which 11.6 million shares will be offered for up to $139.6 million. The cloud-based business collaboration software company said it is offering 10.0 million shares of its Class A common stock in the IPO, while selling shareholders are offering 1.6 million shares. The underwriters of the offering were granted options to buy up to an additional 1.7 million shares. The company said it expects the IPO to price between $10 and $12 a share. The stock has been approved to list on the New York Stock Exchange under the ticker symbol "SMAR." The lead underwriters are Morgan Stanley, J.P. Morgan, Jefferies and RBC Capital Markets. The company is looking to go public at a time that the Renaissance IPO ETF has gained 0.8% year to date, while the S&P 500 has slipped 0.7%.

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