SailPoint's $12.8 Billion Nasdaq Debut: A New Era in Identity Security

SailPoint, an identity security company backed by Thoma Bravo, achieved a valuation of $12.8 billion during its Nasdaq debut, opening at $23 per share. The company raised $1.38 billion in an upsized IPO, selling 60 million shares, surpassing its initial target of 50 million shares priced between $21 and $23.

SailPoint, an identity security firm supported by private equity firm Thoma Bravo, made a significant entry onto the Nasdaq, marking a valuation of $12.8 billion.

The company's shares began trading at $23, consistent with the initial public offering (IPO) price set for the debut.

Initially planning to sell 50 million shares between $21 and $23, SailPoint and Thoma Bravo instead raised $1.38 billion by offloading 60 million shares at the upper price range, showcasing strong market demand and investor confidence.

(With inputs from agencies.)