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.