SailPoint Returns to Nasdaq with $12.8 Billion Valuation

The Thoma Bravo-backed cybersecurity firm raised $1.38 billion in an upsized IPO, pricing shares at $23 each.

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.