Sonos (SONO) IPO Opens 7% Higher

Today's IPO for Sonos (NASDAQ: SONO) opened for trading at $16 after pricing 13,888,888 shares of its common stock at a price to the public of $15.00 per share.

Sonos is issuing and selling 5,555,555 shares and the selling stockholders are selling 8,333,333 shares of common stock. In addition, Sonos and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,083,333 shares of common stock at the initial public offering price less underwriting discounts and commissions.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as lead book-running managers for the offering. Allen & Company LLC, RBC Capital Markets, LLC, Jefferies LLC and KKR Capital Markets LLC are acting as bookrunners. Raymond James & Associates, Inc. and Stifel are acting as co-managers for the offering.

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