Identity security software company SailPoint (SAIL Proposed) unveiled the terms and launched its $1 billion IPO early today – Tuesday, Feb. 4, 2025: 50.0 million shares at a price range of $19 to $21 a share. Of the 50.0 million shares in the IPO, the company is offering 47.5 million shares and the selling shareholders are offering 2.5 million shares. SailPoint’s IPO is expected to price next week – on Wednesday night, Feb. 12, 2024, to trade Thursday, Feb. 13, on the NASDAQ.
Morgan Stanley and Goldman Sachs are the lead joint global book-runners. J.P. Morgan and Evercore ISI are joint lead book-runners. The investment banking team includes 10 book-runners: BofA Securities, Barclays, Jefferies, RBC Capital Markets, BMO Capital Markets, BTIG, Mizuho, Piper Sandler, TD Cowen and Truist Securities.
Cornerstone investors Alliance Bernstein and Dragoneer Investment Group “have severally and not jointly, indicated an interest in purchasing up to an aggregate of 20 percent of the shares in the IPO,” according to the prospectus.
After the IPO, private equity firm Thoma Bravo will still control the company through its ownership of about 88.5 percent of SailPoint’s outstanding common stock, according to the prospectus.
SailPoint, based in Austin, Texas, provides enterprises with customized identity security software, according to the prospectus. The options include its Identity Security Cloud, its SaaS-based cloud solution on its unified platform, Atlas, and IdentityQ, its customer-hosted identity security solution.
SailPoint, founded in 2005, is not profitable. For the 12 months that ended Oct. 31, 2024, SailPoint reported a net loss of $322.99 million on revenue of $824.2 million.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.