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SailPoint’s dull debut did little to loosen the stuck IPO window, expert says
SailPoint’s IPO on Thursday was a disappointment for anyone hoping it would indicate that tech IPOs are hot again. The first day’s trading ended below the
“While the company has good growth, it may not have stood out enough in the cybersecurity landscape to be awarded a premium sales multiple.” It was previously a public company until PE firm Thoma Bravo took it private in 2022, valuing it at $6.9 billion at the time. On the positive side for SailPoint, the company priced its initial 60 million shares at $23, above its previously announced range of $19 and $21.
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