ShotSpotter (SSTI) IPO Opens 11% Higher

Today's IPO for Shotspotter (NASDAQ: SSTI) opened for trading at $12.20 after pricing 2,800,000 shares at $11.

In addition, ShotSpotter has granted the underwriters a 30-day option to purchase up to 420,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. All of the common stock is being offered by ShotSpotter.

Roth Capital Partners is acting as sole book-running manager, Northland Capital Markets is acting as co-lead manager, and Imperial Capital is acting as co-manager for the offering.

ShotSpotter is the global leader in gunfire detection and location technology. ShotSpotter's solutions help law enforcement officials and security personnel identify, locate and deter gun violence. ShotSpotter is based in Newark, California and offers its solutions on a SaaS-based subscription model to customers around the world, with current customers located in the United States, Puerto Rico, the U.S. Virgin Islands and South Africa.

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