Monday, November 6, 2017

SendGrid IPO Expected Next Week

The next IPO of a technology company with Southern California roots is expected next week, as SendGrid now appears to be planning its IPO, on Wednesday, November 15th. According to the upcoming market IPO calendar, SendGrid is planning on its IPO on Wednesday. SendGrid is offering up 7,700,000 shares of its common stock, and most recently estimated an IPO range of between $13.50 and $15.50 per share. The company has been approved to list as SEND on the NYSE. If successful, the IPO would raise around $137M for the company, which provides back-end email delivery services for other companies. SendGrid is venture backed by Bain Capital Ventures, Bessemer Venture Partners, Foundry Group, and Highway 12 Ventures. The IPO is being underwritten by Morgan Stanley, JP Morgan, William Blair, KeyBanc Capital Markets, Piper Jaffray, and Stifel. SendGrid has major operations in Orange County, where one of its co-founders lives, and also has a big office in Irvine. If successful, the IPO would join Newport Beach-based Veritone; Westlake Village-based Sienna Biopharmaceuticals; San Diego-based AmpliPhi Biosciences; San Diego-based Tocagen; Irvine-based Alteryx; San Diego-based AnapytsBio, and Venice-based Snap Inc on 2017's IPO list for the region.