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Cybersecurity troupe SailPoint is hop to go public — again . This metre , the company design to trade $ 1 billion Charles Frederick Worth of descent and hit an $ 11.5 billion valuation in its design initial public offering .
That ’s how the mathematics works out for a proposed offering itannouncedTuesday of 47.5 million shares , at between $ 19 and $ 21 . SailPoint ’s proprietor , Thoma Bravo , project to also sell 2.5 million ploughshare .
SailPoint offers identity management product to enterprises and is acompetitor to $ 16 billion marketplace - hood Okta .
This is n’t SailPoint ’s first time as a public company . It was in public trade until Thoma Bravo take SailPoint private in 2022 , valuing it at $ 6.9 billion at the time . The secret equity monster will still own over 87 % of the society after the IPO .
The companysaid in its S-1 filingthat it ’s on track for $ 813 yearly recurring revenue , as of October . SailPoint reported annual nett losses of just over $ 395 million on about $ 700 million in revenues as of January 2024 ; the company said it has more than $ 1 billion in debt , with its Libra the Balance shroud showing debt of $ 1.5 billion . SailPoint said it will use the proceeds to address its debt , as well as investment firm surgical process .
Given the financial sophistication of SailPoint ’s owners , the stock may very well toll above that chain of mountains and well ring road that hop - for cash haul and valuation .
Founder Mark McClain , who outride on as CEO after Thoma Bravo acquired the company , still has a relatively petite stake of just over 3.6 million parcel .
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“ Not many founding CEOs find themselves in a position to introduce their fellowship to the public food market for a 2nd clip , but I am thankful to be able to do precisely that , ” he remarked in hisprospectus missive .
Because SailPoint is n’t a startup , this IPO , which could come about next week , wo n’t be a blessing for any speculation capitalists . But the succeeder of the offering will be closely view by them . VCs and startup are still reading the teatime leaves on the timing to bringtheir many IPO - quick technical school startups public . Should retail investors bolt the line , this will be another signaling that 2025 could be a good year to open not just a window , but also a door .
Then again , even if investor are hungry for this IPO , other agent could slow other offerings .
Wall Street grew plenty nervousover the Trump administration ’s plans to start a North America duty business deal war , although those plans have now been postponed for at least a calendar month . Should policy upshot keep rattling the markets , tech startups may just continue to stay under cover .
