Business
Sprout Social Announces Pricing of Follow-on Public Offering
CHICAGO, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Sprout Social, Inc. (“Sprout Social” or the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based
About this update from Sprout Social, Inc
[{"type":"text","content":"CHICAGO, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Sprout Social, Inc. (“Sprout Social” or the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced the pricing of its follow-on public offering of 6,000,000 shares of Class A common stock at a public offering price of $27.50 per share. The Company is offering 1,500,000 shares of its Class A common stock and selling stockholders are offering 4,500,000 shares of Class A common stock in the offering. In addition, the Company and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Class A common stock. The Company will not receive any proceeds from the sale of the shares by the selling stockholders. The offering is expected to close on or about August 17, 2020, subject to the satisfaction of customary closing conditions.\n Morgan Stanley, Goldman Sachs & Co. LLC and Barclays are serving as lead book-running managers for the proposed offering. KeyBanc Capital Markets and William Blair are also acting as book-running managers. Baird, Canaccord Genuity, Needham & Company and Stifel are acting as co-managers for the offering. The offering will be made only by means of a prospectus. A copy of the prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847 or by email at [email protected]. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”). A copy of the prospectus, when available, can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any su...