Sprout Social And Bill.com Set IPO Price Ranges

By Amit Chowdhry ● Dec 4, 2019
  • Technology companies Sprout Social and Bill.com have set the price ranges of their IPOs. Both companies set the price ranges between $16 and $18 per share.

Technology companies Sprout Social and Bill.com have set the price ranges for their IPOs. Both companies set their price ranges between $16 and $18 per share before the IPOs next week.

Sprout Social was founded by CEO Justyn Howard, CTO Aaron Rankin, CCO Gilbert Lara, and Director of Engineering Peter Soung. And Bill.com was founded by CEO René Lacerte.

Sprout Social IPO

Chicago-based Sprout Social — which is a business social media service — could potentially raise up to $158.8 million through the IPO. Sprout is offering 8.82 million Class A shares in the IPO. And if the underwriters exercise all of the options for buying more shares, Sprout could raise up to $182.65 million. The lead underwriters of Sprout are Goldman Sachs and Morgan Stanley

After the IPO, there will be 38.1 million Class A shares outstanding and 9.8 million Class B shares with Class A shares entitling holders one vote per share and Class B shares entitling holders 10 votes per share. Last year, Sprout recorded a net loss of $20.9 million on revenue of $78.8 million. In 2017, Sprout saw a loss of $21.9 million on revenue of $44.8 million.

Bill.com IPO

Palo Alto-based financial software company Bill.com could raise up to $158.8 million. Bill.com is offering 8.8 million shares in the IPO. And with 69.55 million shares outstanding after the IPO, Bill.com would be valued at $1.25 billion.

But if the underwriters exercise all of the options to buy more shares, Bill.com could raise up to $182.6 million. The lead underwriters for this IPO include Goldman Sachs, BofA Securities, Jefferies, and KeyBanc Capital Markets.

Bill.com had reported a net loss for the fiscal year ended June 30 of $7.3 million on revenue fo $108.4 million after a loss of $7.2 million on revenue of $64.9 million a year ago.

Bill.com is expected to start trading on the New York Stock Exchange on December 12. And Sprout Social will start trading on the Nasdaq on December 13.