Corporate identity security service provider SailPoint (SAIL.US) has an IPO price of $19-21 per share and plans to raise $1 billion

The Zhitong Finance App learned that SailPoint (SAIL.US), which provides identity management software for companies, announced the IPO terms on Tuesday. The Austin, Texas-based company plans to issue 50 million shares (5% for the second offering) at a price of $19 to $21 per share, raising $1 billion. Cornerstone investors intend to buy 20% of the shares in this offering. Based on the midpoint of the proposed price range, SailPoint's fully diluted market capitalization would reach $11.5 billion.

According to reports, SailPoint provides solutions to achieve comprehensive identity security for enterprises, serving customers including many of the world's largest and most complex organizations, as well as large enterprises and governments in all major vertical industries. The company provides a range of solutions to meet the diverse needs of customers across multiple deployment options, including Identity Security Cloud, a SaaS cloud solution based on the unified platform Atlas, and IdentityIQ, a customer-hosted identity security solution.

SailPoint was founded in 2005 with 12-month revenue ending October 31, 2024 of US$824 million. The company plans to list on NASDAQ under the stock symbol SAIL. SailPoint secretly submitted the application on September 12, 2024. Morgan Stanley and Goldman Sachs are the joint bookkeepers of this transaction. The company is expected to set prices for the week of February 10, 2025.