Dropbox Announces Pricing of Initial Public Offering

SAN FRANCISCO--(BUSINESS WIRE)-- Dropbox today announced the pricing of its initial public offering of 36,000,000 shares of its common stock at a price to the public of $21 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on March 23, 2018 under the symbol “DBX.” Dropbox is offering 26,822,409 shares of Class A common stock and selling stockholders are offering 9,177,591 shares of Class A common stock. The offering is expected to close on March 27, 2018, subject to customary closing conditions.

In addition, Dropbox has granted the underwriters a 30-day option to purchase up to 5,400,000 additional shares of Class A common stock at the initial public offering price less underwriting discounts.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are joint lead bookrunning managers. Deutsche Bank Securities, Allen & Company LLC, BofA Merrill Lynch, RBC Capital Markets, Jefferies, and Macquarie Capital (USA) Inc. are acting as joint book running managers. Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, and Piper Jaffray are acting as co-managers for the offering.

The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from:

Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, email: [email protected], telephone: 1-866-471-2526, fax: 1-212-902-9316; or

J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at [email protected].

A registration statement related to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dropbox

Dropbox is a leading global collaboration platform that's transforming the way people and teams work together. With more than 500 million registered users across 180 countries, we’re on a mission to unleash the world’s creative energy by designing a more enlightened way of working. Dropbox is headquartered in San Francisco, CA, and has 12 offices around the world.

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Dropbox
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Source: Dropbox

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