Sprout Social (SPT) Announces Launch of Follow-on Public Offering

Sprout Social, Inc. (“Sprout Social” or the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced that it has commenced a follow-on public offering of its Class A common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”). The Company proposes to sell up to 1.5 million shares of its Class A common stock in the offering, and selling stockholders are proposing to sell up to 4.5 million shares of the Company’s Class A common stock in the offering. In addition, the Company and the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of Class A common stock. The Company will not receive any proceeds from the sale of the shares by the selling stockholders.

Morgan Stanley, Goldman Sachs & Co. LLC and Barclays are serving as lead book-running managers for the proposed offering. KeyBanc Capital Markets and William Blair are also acting as book-running managers. Baird, Canaccord Genuity, Needham & Company and Stifel are acting as co-managers for the offering.

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