SailPoint IPO opens at $23 per share, matches pricing

Investing.com -- Today, SailPoint Inc.'s initial public offering (IPO) opened at $23 per share. The company had announced the pricing of its upsized IPO, which consists of 60,000,000 shares of its common stock, at $23 per share.

Out of these shares, SailPoint (NASDAQ: SAIL) will issue and sell 57,500,000 shares, while certain existing stockholders will sell 2,500,000 shares. Furthermore, the company has offered underwriters a 30-day option to buy up to an additional 9,000,000 shares of common stock at the initial offering price, minus underwriting discounts and commissions.

Morgan Stanley and Goldman Sachs & Co. LLC are serving as joint lead book-running managers for the offering. Other bookrunners include J.P. Morgan, Evercore ISI, BofA Securities, Barclays, Jefferies, RBC Capital Markets, BMO Capital Markets, BTIG, Mizuho, Piper Sandler, TD Cowen, and Truist Securities.

The shares began trading on the Nasdaq Global Select Market today under the ticker symbol "SAIL".

SailPoint is known for equipping modern enterprises to manage and secure access to applications and data through the lens of identity, at speed and scale. The company continuously reinvents identity security as the foundation of the secure enterprise. SailPoint's platform is designed to defend against today’s dynamic, identity-centric cyber threats while enhancing productivity and efficiency. The company aids many of the world’s most complex, sophisticated enterprises in creating a secure technology ecosystem that fuels business transformation.

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