DENVER BUSINESS JOURNAL - SendGrid Inc. has put a price on what it hopes its stock will sell for in its initial public offering.
The Denver-based email technology company aims to generate as much as $137.2 million with its IPO, selling 7.7 million shares for a maximum price of $15.50 each, according to a Thursday morning filing with the U.S. Securities & Exchange Commission.
The lower end of the company's price range is $13.50 per share, the filing shows.
After underwriters’ discounts and required payments, SendGrid would receive $107.5 million from the IPO if its shares sell at $15.50, the filing says. That falls to $100.3 million if its shares sell at the $14.50 mid-point.
SendGrid makes software that helps businesses manage email delivery, much of it automated transactional messages — receipts, order confirmation and the like — for online companies as well as email marketing messages and other bulk email. SendGrid’s systems handle an average of 35 billion messages a month for companies including Airbnb, Deloitte, eBay, Hertz and Uber.
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