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What you need to know
- SailPoint, a cybersecurity firm, is reportedly aiming for an IPO value of $11.5 billion.
- SailPoint, the parent company of Thoma Bravo, plans to sell 50 million shares between $19-$21. This would generate $1.05 billion if you go for the highest price.
- The IPO would be the year's first large tech offering and another early test of investor appetite in 2025 after Smithfield Foods went public last week.
SailPoint (a Texas cybersecurity company) is targeting an initial public offer (IPO) with a market value up to $11.5 Billion.
Reuters reports that SailPoint’s private equity subsidiary Thoma Bravo announced Tuesday plans to sell up to 50 million company shares priced at $19 – $21. This could raise as much as $1.05 Billion, or $1.05B at its highest end. The valuation is estimated around $11.5B. The company is planning to list its stock on Nasdaq with the ticker ‘Nasdaq-listed Company. “SAIL” In the first big tech IPO this year.
SailPoint is planning to return its IPO after a successful one in 2017. Thoma Bouche took SailPoint private in 2020. Thoma Bravo is involved in a complex history of SailPoint. The company was acquired by Thoma Bravo in 2014 and made public three years after. In 2018, Thoma Bravo sold its stake, only to return in 2022.
A new early gauge for the 2025 IPO market
SailPoint’s IPO in 2025 would serve as a good indicator of what the IPO market will look like. Last year, in 2024, companies going public in the U.S. earned proceeds of $29.6 billion, according to IPO-focused research firm Renaissance Capital, up from 2023’s $19.4 billion and $7.7 billion in 2022. But 2024 still fell far short of the $142.4 that was raised in 2021 as listing candidates raced to raise funds in an age of low interest.
Smithfield Foods, a U.S.-based pork company (SFD), and its Chinese owners WH Group went public last week after offering nearly 26 million shares each at a price of $20. Originally, the two companies offered 34.8% of their shares between $23 and $27 each. The stock was trading at $21.42 on Tuesday, down 2% compared to its initial listing date of Jan. 28.
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