SolarWinds sees 2% pop in trading debut

SolarWinds

Reuters/Brendan McDermid

• SolarWinds opened for trading at $15.30 — 2% above the $15 pricing.

• The IT-management-software maker sold 25 million shares, raising $375 million. It had initially expected to sell 42 million shares for between $17 and $19 apiece. 

• Shares trade under the ticker "SWI."

SolarWinds shares jumped 2% to $15.30 in their trading debut, after a disappointing start to its time as a public company. 

The IT-management-software maker cut the size and price of its initial public offering, announcing the pricing of 25 million shares at $15 apiece. SolarWinds raised $375 million through its share sale. It had initially expected to sell 42 million shares for between $17 and $19 apiece. 

Goldman Sachs, JPMorgan Securities, Morgan Stanley, and Credit Suisse Securities (USA) were the joint lead book-running managers for the offering. 

Shares will begin trading on the New York Stock Exchange on Friday, under the ticker "SWI."

 

NOW WATCH: What activated charcoal actually does to your body

See Also:

• Your opinion matters. Become a BI Insider today!

• Silicon Valley's ultimate status symbol is the sneaker. Here are the rare, expensive, and goofy sneakers worn by the top tech CEOs.

• Walmart, Whole Foods, and Trader Joe's are recalling thousands of pounds of ready-to-eat salads