Smartsheet (SMAR) IPO Opens 23% Higher

Today's IPO for Smartsheet (NYSE: SMAR) opened for trading at $18.40 after pricing 11,633,920 shares of its Class A common stock at a price to the public of $15.00 per share. Smartsheet is offering 10,000,000 shares and certain selling shareholders are offering 1,633,920 shares.

In addition, Smartsheet has granted the underwriters a 30-day option to purchase up to an additional 1,745,088 shares of Class A common stock.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, and Jefferies LLC are acting as lead book-running managers for the offering. RBC Capital Markets LLC is acting as joint bookrunner. Canaccord Genuity LLC, William Blair & Company, L.L.C., and SunTrust Robinson Humphrey, Inc. are acting as co-managers.

Smartsheet enables teams to get work done fast and efficiently. We are a leading cloud-based platform for work execution, enabling organizations to plan, capture, manage, automate, and report on work at scale, resulting in more efficient processes and better business outcomes. Smartsheet empowers collaboration, drives better decision making, and accelerates innovation for over 74,000 customers in 190 countries, including 90 percent of the Fortune 100. Named by Forbes as one of the world’s top private cloud companies, Smartsheet complements existing enterprise investments by deeply integrating with applications from Microsoft, Google, Salesforce, Atlassian, and many others.

Headquartered in Bellevue, Washington, Smartsheet has more than 860 employees in its Bellevue, Boston, and Edinburgh offices as of April 2018.

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