The SurveyMonkey IPO is underway!
Here are a few things for investors to know about the SurveyMonkey IPO.
- The SurveyMonkey IPO includes 15 million shares of the company’s new stock.
- This stock is trading on the Nasdaq Global Select Market under the ticker SVMK.
- Shares of SVMK stock in the IPO are priced at $12 each.
- This has the total value of the SurveyMonkey IPO sitting at $180 million.
- There’s also an option for underwriters of the IPO to purchase an additional 2.25 million shares of the common stock within 30 days at the IPO price.
- This has a value of $27 million and could bring the total value of the IPO up to $207 million.
- The underwriters for the IPO include J.P. Morgan Securities LLC, Allen & Company LLC and BofA Merrill Lynch.
- The SurveyMonkey IPO will be lasting until Sept. 28, 2018.
- The price of $12 per share and 15 million shares is actually above SurveyMonkey’s initial estimates for the IPO.
- The company was originally expecting its IPO to have 12.50 million shares priced between $9 and $11.
- To go along with the SurveyMonkey IPO, there are plans for the company to sell some of its shares to Salesforce.com’s (NYSE:CRM) venture-capital division.
- SurveyMonkey is planning to sell $40 million worth of its stock to the company.
- It is planning to use some of the funds from its IPO to pay down its current debt of $322 million.
- The company also notes that it has cash on hand of $43.4 million that will allow it to continue operations for up to a year.
As of this writing, William White did not hold a position in any of the aforementioned securities.