Sprout Social, which provides a cloud-based platform for businesses to manage social media accounts, raised $150 million by offering 8.8 million shares at $17, the midpoint of the range of $16 to $18. At the IPO price Sprout commands a fully diluted market cap of $894 million. Sprout Social plans to list on the Nasdaq under the symbol SPT. Goldman Sachs, Morgan Stanley, KeyBanc Capital Markets and William Blair acted as lead managers on the deal.
