SendGrid, which provides a cloud-based platform for email marketing, announced terms for its IPO on Thursday.
The Denver, CO-based company plans to raise $112 million by offering 7.7 million shares at a price range of $13.50 to $15.50. At the midpoint of the proposed range, SendGrid would command a fully diluted market value of $715 million.
SendGrid was founded in 2009 and booked $103 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol SEND. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of November 13, 2017.
