Sumo Logic Announces Pricing of Initial Public Offering | Be Korea-savvy

Sumo Logic Announces Pricing of Initial Public Offering


(image: Korea Bizwire)

(image: Korea Bizwire)

press-release-notification

REDWOOD CITY, Calif., Sept. 16 (Korea Bizwire) — Sumo Logic, Inc. (“Sumo Logic”) today announced the pricing of its initial public offering of 14,800,000 shares of its common stock at a price of $22.00 per share. All of the shares are being offered by Sumo Logic. The shares are expected to begin trading on the Nasdaq Global Select Market on September 17, 2020 under the ticker symbol “SUMO.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Sumo Logic, are expected to be $325.6 million. In addition, Sumo Logic has granted the underwriters a 30-day option to purchase up to an additional 2,220,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on September 21, 2020, subject to customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the offering. RBC Capital Markets and Jefferies are acting as book-running managers for the offering, and William Blair, Cowen, Piper Sandler and BTIG are acting as co-managers for the offering.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on September 16, 2020. This offering is being made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at 877-822-4089 or by email at equityprospectus@rbccm.com; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Sumo Logic

Sumo Logic is the pioneer in continuous intelligence, a new category of software, which enables organizations of all sizes to address the data challenges and opportunities presented by digital transformation, modern applications, and cloud computing. The Sumo Logic Continuous Intelligence Platform™ automates the collection, ingestion, and analysis of application, infrastructure, security, and IoT data to derive actionable insights within seconds. More than 2,100 customers around the world rely on Sumo Logic to build, run, and secure their modern applications and cloud infrastructures. Sumo Logic delivers its platform as a true, multi-tenant SaaS architecture, across multiple use-cases, enabling businesses to thrive in the Intelligence Economy.

Media Contact:
Melissa Liton
Sumo Logic
mliton@sumologic.com
(650) 814-3882

Investor Relations Contact:
Paul Thomas

pthomas@sumologic.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2855a365-a14d-499f-94ec-1a2f22b64375

Source: Sumo Logic, Inc. via GLOBE NEWSWIRE

press release curation and disclaimer notice

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>