Cybersecurity drama returns to public markets.
Sail (Maiden) Ready to start trading in the NASDAQ on Thursday. The company priced its initial public offer (IPO) at the top end of its targeted range from $ 21 to $ 23, raising $ 1.38 billion in the profit.
The company's valuation before its IPO was $ 12.6 billion. Its nearest competitor, Okta (Okta), priced at $ 16.8 billion.
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The identity management technology company is no stranger to public markets.
Thoma Bravo Publicly took public on November 18, 2017, at about the same time as semi-mixer Okta debuted.
On his first day of trading, the stock finished up 8.3% at $ 13. The company had priced its IPO then at $ 12 per share.
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At the time, Sailpoint touched sales of $ 118.3 million and a growth of 34% in the nine months before its IPO. He had a net loss of $ 13 million.
Thoma Bravo took the private company in 2022 for $ 6.9 billion or $ 65.25 share.
Today, Sailpoint is a more mature and financial company-although it produces losses despite switching to a software-as-service model.
For the year ended January 31, 2025, the company estimated its prospectus that it would earn $ 875 million to $ 877 million in annual circular revenue. That would be up about 41% year -on -year.
Sailpoint did not reveal a guide for the bottom line of his financial year.
Through the nine months ending October 31, 2024, the total net loss of Sailpoint was $ 235.8 million, better than the loss of $ 308 million a year earlier. McClain says that the company is profitable on the basis of not GAAP.
Sailpoint will now be defined as a controlled company that it is public. Thoma Bravo is expected to own 88% of Post-IPO's basis, and will have the final say over board level decisions. He will also be able to nominate members to the Board of Sailpoint.
Sailpoint is the first major test of the Tech IPO market in 2025, which is expected to see well -known names such as Stripe that may be appearing for the first time as companies banked on a friendly regulatory background under President Trump.
The Macro Renaissance expects a “flag” year for this year's IPOS, with an estimated volume range of 155 to 195 companies coming to the market. They could raise $ 40 billion to $ 55 billion in finance.