SolarWinds prices downsized IPO at $15 a share

Reuters/Brendan McDermid

SolarWinds Corp. banner hangs at the New York Stock Exchange (NYSE) on the IPO day of the company in New York.

• SolarWinds cut the size of its initial public offering.
• The IT-management-software maker sold 25 million shares at $15 apiece, raising $375 million.
• Shares will trade under the ticker "SWI."

SolarWinds had a disappointing start to its time as a public company.

The IT-management-software maker cut the size and price of its initial public offering, announcing the pricing of 25 million shares at $15 apiece. SolarWinds raised $375 million through its share sale. Initially the company had expected to sell 42 million shares for between $17 and $19.

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Shares are indicated to open between $15.50 and $16.50, according to Bloomberg.

Goldman Sachs, JPMorgan Securities, Morgan Stanley, and Credit Suisse Securities (USA) were the joint lead book-running managers for the offering.

Shares will begin trading on the New York Stock Exchange on Friday, under the ticker "SWI."