Today's IPO for Pivotal Software, Inc. (NYSE: PVTL) opened for trading at $16.75 after pricing 37,000,000 shares of its Class A common stock at a price to the public of $15.00 per share. Pivotal is offering 33,117,000 shares of its Class A common stock and General Electric, the selling stockholder, is offering 3,883,000 shares of Class A common stock (which represents approximately 20% of General Electric’s position in Pivotal).

Pivotal has granted the underwriters a 30-day option to purchase up to an additional 5,550,000 shares of its Class A common stock.

Morgan Stanley, Goldman Sachs & Co. LLC and Citigroup are acting as lead book-running managers for the offering. BofA Merrill Lynch, Barclays, Credit Suisse, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are acting as book-running managers. KeyBanc Capital Markets and William Blair as well as Mischler Financial Group, Inc., Ramirez & Co., Inc., Siebert Cisneros Shank & Co., L.L.C. and The Williams Capital Group, L.P. are acting as co-managers.

Founded in 2013, Pivotal Software, Inc. combines our leading cloud-native platform, tools, and methodology to empower the world’s largest organizations to adapt to change and build great software. Our technology unleashes developer productivity, while fulfilling our mission to transform how the world builds software.