ServiceNow (NOW) IPO Price at $18, Above Expected Range

June 29, 2012 8:35 AM EDT
ServiceNow, Inc. (NYSE: NOW) priced its initial public offering of 11,650,000 shares of its common stock at a price to the public of $18 per share, above the expected $15-$17 range. Shares will open today on the NYSE under the symbol "NOW."

Morgan Stanley & Co. LLC, Citigroup Global Markets, Inc., and Deutsche Bank Securities Inc. are acting as lead book-running managers for the offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC, and UBS Securities LLC are acting as joint book-running managers for the offering. Pacific Crest Securities LLC and Wells Fargo Securities, LLC are acting as co-managers.

ServiceNow is a leading provider of cloud-based services to automate enterprise IT operations.

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