Sprout Social 8.82M IPO priced at $16.00-$18.00
Sprout Social announced the launch of its initial public offering of 8,823,530 shares of Class A common stock. The initial public offering price is expected to be between $16.00-$18.00 per share, before underwriting discounts and commissions. In addition, the company expects to grant the underwriters a 30-day option to purchase up to an additional 1,323,529 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. Sprout Social's existing stockholders will not sell any shares in the offering. The company has applied to list its shares of Class A common stock on the Nasdaq Global Market under the symbol "SPT." Goldman Sachs & Co. and Morgan Stanley are serving as lead book-running managers for the offering. KeyBanc Capital Markets and William Blair are also acting as book-running managers. Canaccord Genuity and Stifel are acting as co-managers for the offering.