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Sprout Social prices IPO


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Sprout Social prices IPO

Social media management platform Sprout Social Inc. priced its initial public offering of 8,823,530 shares of class A common stock at $17 per share.

The company also granted underwriters a 30-day option to purchase up to an additional 1,323,529 shares of class A common stock at the IPO price, less underwriting discounts and commissions. The offering is expected to close on Dec. 17.

Shares of Sprout Social began trading on the Nasdaq Capital Market on Dec. 13 under the ticker symbol SPT.

The Chicago-based company designs, develops and operates a web-based social media management tool to enable companies to manage and measure their online presence.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC 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.