DigitalOcean (DOCN) IPO Opens 12% Lower

Today's IPO for DigitalOcean (NYSE: DOCN) opened for trading at $41.50 after pricing its initial public offering of 16,500,000 shares of common stock at a price to the public of $47.00 per share.

Morgan Stanley, Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the proposed offering. BofA Securities, Barclays and KeyBanc Capital Markets are acting as joint book-running managers for the offering. Canaccord Genuity, JMP Securities and Stifel are acting as co-managers for the proposed offering.

The offering is being made only by means of a prospectus.

DigitalOcean simplifies cloud computing so developers and businesses can spend more time building software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source and customer support, so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth.

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