PagerDuty announced the closing of its initial public offering of 10,430,500 shares of its common stock at a public offering price of $24.00 per share, which includes the full exercise of the underwriters’ option to purchase 1,360,500 additional shares.
PagerDuty sold 9,860,500 shares and the selling stockholders sold 570,000 shares, including the shares sold upon exercise of the underwriters’ option to purchase additional shares. PagerDuty estimates net proceeds from the offering to be approximately $213.9 million, after deducting underwriting discounts and commissions and estimated offering expenses. PagerDuty did not receive any proceeds from the sale of the shares by the selling stockholders. The shares began trading on the New York Stock Exchange on April 11, 2019, under the symbol “PD.”
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as lead book-running managers for the offering. RBC Capital Markets, LLC and Allen & Company LLC are acting as joint bookrunners. KeyBanc Capital Markets Inc., Piper Jaffray & Co., William Blair & Company, L.L.C. and BTIG, LLC are acting as co-managers for the offering.
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