Everbridge (EVBG) IPO Opens, Trades Modestly Higher
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Today's IPO for Everbridge (NASDAQ: EVBG) opened for trading earlier at $12.30 at after pricing 7,500,000 shares of common stock, of which 6,250,000 shares are being offered by Everbridge and 1,250,000 shares are being offered by existing stockholders of Everbridge, at a price to the public of $12.00 per share, the middle of the expected $11-$13 range.
Credit Suisse and BofA Merrill Lynch are acting as joint book-running managers for the offering. Stifel, Pacific Crest Securities, a division of KeyBanc Capital Markets, Raymond James, Canaccord Genuity and William Blair are acting as co-managers for the offering.
Everbridge is a global software company that provides critical communications and enterprise safety applications that enable customers to automate and accelerate the process of keeping people safe and businesses running during critical events. During public safety threats such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events such as IT outages or cyber incidents, over 3,000 global customers rely on the company’s SaaS-based platform to quickly and reliably construct and deliver contextual notifications to millions of people at one time. The company’s platform sent over 1 billion messages in 2015, and offers the ability to reach more than 200 countries and territories with secure delivery to over 100 different communication devices. The company’s critical communications and enterprise safety applications include Mass Notification, Incident Management, IT Alerting, Safety Connection™, Community Engagement™, Secure Messaging and Internet of Things, and are easy-to-use and deploy, secure, highly scalable and reliable. Everbridge serves 8 of the 10 largest U.S. cities, 8 of the 10 largest U.S.-based investment banks, all four of the largest global accounting firms, 24 of the 25 busiest North American airports and 6 of the 10 largest global automakers. Everbridge is based in Boston and Los Angeles with additional offices in San Francisco, Beijing and London.
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