Cloud management software provider Sumo Logic prices IPO above the range at $22

Sumo Logic, which provides on-demand cloud log management solutions to enterprises, raised $326 million by offering 14.8 million shares at $22, above the range of $17 to $21. Existing shareholder Tiger Global had indicated on buying up to 10% of the shares in the offering. At pricing, the company raised 16% […]

Sumo Logic, which provides on-demand cloud log management solutions to enterprises, raised $326 million by offering 14.8 million shares at $22, above the range of $17 to $21. Existing shareholder Tiger Global had indicated on buying up to 10% of the shares in the offering. At pricing, the company raised 16% more in proceeds than anticipated.

Sumo Logic plans to list on the Nasdaq under the symbol SUMO. Morgan Stanley, J.P. Morgan, RBC Capital Markets and Jefferies acted as lead managers on the deal.

The article Cloud management software provider Sumo Logic prices IPO above the range at $22 originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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