Sumo Logic announced the pricing of its initial public offering of 14,800,000 shares of its common stock at a price of $22.00 per share.
All of the shares are being offered by Sumo Logic.
The shares are expected to begin trading on the Nasdaq Global Select Market on September 17, 2020 under the ticker symbol “SUMO.”
The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Sumo Logic, are expected to be $325.6 million.
In addition, Sumo Logic has granted the underwriters a 30-day option to purchase up to an additional 2,220,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.
The offering is expected to close on September 21, 2020, subject to customary closing conditions.
Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the offering. RBC Capital Markets and Jefferies are acting as book-running managers for the offering, and William Blair, Cowen, Piper Sandler and BTIG are acting as co-managers for the offering.
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