Sumo Logic (SUMO) IPO Opens 21% Higher

Today's IPO for Sumo Logic, Inc. (NASDAQ: SUMO) opened for trading at $26.64 after pricing its initial public offering of 14,800,000 shares of its common stock at a price of $22.00 per share. All of the shares are being offered by Sumo Logic.

In addition, Sumo Logic has granted the underwriters a 30-day option to purchase up to an additional 2,220,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on September 21, 2020, subject to customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the offering. RBC Capital Markets and Jefferies are acting as book-running managers for the offering, and William Blair, Cowen, Piper Sandler and BTIG are acting as co-managers for the offering.

Sumo Logic is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy.

You May Also Be Interested In

• Rubrik IPO: 5 key things to know
• TScan Therapeutics (TCRX) Launches $125 Million Proposed Public Offering of Common Stock, Warrants
• JPMorgan (JPM) Dealmakers Lipsky and Lee Leaving the Bank - Reuters