Sprout Social (SPT) IPO Opens Higher

Today's IPO for Sprout Social (NASDAQ: SPT) opened for trading at $18.05 after pricing shares at 8,823,530 shares at $17 per share.

In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,323,529 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are serving as lead book-running managers for the offering. KeyBanc Capital Markets and William Blair are also acting as book-running managers. Canaccord Genuity and Stifel are acting as co-managers for the offering.

prout Social offers deep social media listening and analytics, social management, customer care, and advocacy solutions to more than 23,000 brands and agencies worldwide. Sprout’s suite of solutions supports every aspect of a cohesive social program and enables organizations of all sizes to extend their reach, amplify their brand and create the kind of real connection with their consumers that drives their businesses forward. Headquartered in Chicago, Sprout operates across major social media networks, including Twitter, Facebook, Pinterest, Instagram and LinkedIn.

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