ANTICIPATION FOR SENDGRID’S IPO SEES STOCKS RISE
SendGrid’s initial public offering set for Wednesday is apparently in demand as underwriters on Tuesday priced the company’s shares at $16 each, which is above the previous range of $13.50 to $15.50.
The company, which handles billions of emails between clients and their customers each day, also increased the number of shares it plans to sell by 575,000 for a total of about 8.2 million shares. The public offering could bring the company $131.2 million in new money.
SendGrid, whose stock will trade under the symbol SEND, is one of the few Colorado technology companies to go public in the past five years.
Employees work at SendGrid’s headquarters in downtown Denver.