DocuSign (DOCU) IPO Opens 31% Higher

Today's IPO for ​DocuSign, Inc. (NASDAQ: DOCU) opened for trading at $38 after pricing 21,700,000 shares at $29.00 per share. 16,059,182 of the shares are being offered by DocuSign and 5,640,818 of the shares are being offered by certain selling stockholders. DocuSign will not receive any proceeds from the sale of the shares by the selling stockholders.

In addition, DocuSign has granted the underwriters a 30-day option to purchase up to 3,255,000 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.

Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the offering. Citigroup, BofA Merrill Lynch and Deutsche Bank Securities are additional book-running managers, and JMP Securities, Piper Jaffray and William Blair are acting as co-managers for the offering.

Founded in 2003, DocuSign® offers the leading e-signature solution as part of its broader platform for automating the agreement process. Today, DocuSign's cloud-based platform enables more than 370,000 companies and hundreds of millions of users in over 180 countries to accelerate business and simplify life.

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