Upland Software (UPLD) IPO Opens 8% Lower

Today's IPO for Upland Software (NASDAQ: UPLD) opened for trading at $11 after pricing 3,846,154 shares of its common stock at a price to the public of $12 per share, the low end of the expected $12-$14 range. Shares have continued lower to $100.53, or down 12.3%.

William Blair & Company, L.L.C. and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. Canaccord Genuity Inc. is acting as lead manager for the offering and Needham & Company, LLC is acting as co-lead manager for the offering.

Upland SoftwareUpland is a leading provider of cloud-based Enterprise Work Management software. Our family of applications connects people through technology, automates the flow of work and brings visibility to all aspects of the organization. With more than 1,200 enterprise customers around the globe, and over 200,000 users, Upland helps teams in IT, marketing, finance, professional services and process excellence run their operations smoothly, adapt to change quickly and achieve better results every day.

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