Initial public offering: Solarwinds prices IPO at $15

SolarWinds
Corp. banner hangs at the New York Stock Exchange (NYSE) on the
IPO day of the company in New York.
Reuters/Brendan McDermid

• SolarWinds cut the size of its initial public offering.
• The IT-management-software maker sold 25 million shares at
  $15 apiece, raising $375 million.
• Shares will trade under the ticker “SWI.”

SolarWinds had a disappointing start to its time as a public
company. 

The IT-management-software maker cut the size and price of its
initial public offering, announcing the pricing of 25 million
shares at $15 apiece. SolarWinds raised $375 million through its
share sale. It had initially expected to sell 42 million
shares for between $17 and $19 apiece.

Shares are indicated to open for trading between $15.50 and
$16.50, according to Bloomberg. 

Goldman Sachs, JPMorgan Securities, Morgan Stanley, and Credit
Suisse Securities (USA) were the joint lead book-running managers
for the offering. 

Shares will begin trading on the New York Stock Exchange on
Friday, under the ticker “SWI.”