Medallia (MDLA) IPO Opens 62% Higher

Today's IPO for Medallia, Inc. (NYSE: MDLA) opened for trading at $34 after pricing 15,500,000 shares of its common stock at a price to the public of $21.00 per share.

Medallia is offering 14,325,000 shares and the selling stockholders are offering 1,175,000 shares. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,735,000 shares of common stock from Medallia and up to an additional 590,000 shares of common stock from the selling stockholders at the initial public offering price, less underwriting discounts and commissions.

BofA Merrill Lynch, Citigroup and Wells Fargo Securities are acting as lead book-running managers for the offering. Credit Suisse is also acting as a book-running manager. Oppenheimer & Co., SunTrust Robinson Humphrey, William Blair, Needham & Company, Craig-Hallum Capital Group and Roth Capital Partners are acting as co-managers.

Medallia is the pioneer and market leader in Experience Management. Medallia's award-winning SaaS platform, the Medallia Experience Cloud, leads the market in the understanding and management of experience for customers, employees and citizens. Medallia captures experience signals created on daily journeys in person, digital and IoT interactions and applies proprietary AI technology to reveal personalized and predictive insights that can drive action with tremendous business results. Using Medallia Experience Cloud, customers can reduce churn, turn detractors into promoters and buyers, and create in-the-moment cross-sell and up-sell opportunities, providing clear and potent returns on investment.

You May Also Be Interested In

• Anthropic wants to match or beat SpaceX’s record IPO size - report
• Robotics boom fueling nation's tech ambitions
• Longeveron names Nirav Jhaveri as CFO