Overview

• SailPoint, an identity security company, debuted on the Nasdaq with a valuation of $12.8 billion after pricing its shares at the top of the $21-$23 range.
• The company and its private equity owner, Thoma Bravo, raised $1.38 billion by selling 60 million shares, exceeding initial plans to offer 50 million shares.
• SailPoint's stock opened at $23 per share, reflecting a cautious market response in a year marked by uneven IPO activity.
• The firm provides cybersecurity solutions to major clients like General Motors and Hershey, benefiting from increasing demand due to stricter data privacy laws and rising cyber threats.
• This IPO marks SailPoint's return to public markets after Thoma Bravo reacquired it in 2022 for $6.9 billion, following its initial public listing in 2017.