Elastic (ESTC) IPO Nearly Doubles on Open

Today's IPO for Elastic B.V. (NYSE: ESTC) opened for trading at $70 after pricing 7,000,000 of its ordinary shares at a price to the public of $36.00 per share.

In addition, Elastic has granted the underwriters a 30-day option to purchase up to 1,050,000 additional ordinary shares at the initial public offering price less the underwriting discount.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint lead book-running managers for the offering. Barclays Capital Inc. and RBC Capital Markets, LLC are acting as book-running managers for the offering. BofA Merrill Lynch, Citigroup Global Markets Inc., and Jefferies LLC are also acting as book-running managers for the offering. Canaccord Genuity LLC is acting as co-manager for the offering.

Elastic is a search company. As the creators of the Elastic Stack (Elasticsearch, Kibana, Beats, and Logstash), Elastic builds self-managed and SaaS offerings that make data usable in real time and at scale for search, logging, security, and analytics use cases.

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