Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

A highly collaborative investment professional and research analyst with 10+ years of international experience in equity research, treasury operations, and trading positions across multiple asset classes at leading multinational banks Citibank and Morgan Stanley, UHNWI-backed family office and European independent equity research firm. A respectable background in equity capital markets, corporate treasury, investment banking operations, equity research analysis and portfolio management.

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Equity Capital Markets

Sailpoint Technologies Holdings / Equity Capital Markets

Sailpoint Technologies Holdings (SAIL US)

<ul>
<li>Austin-Based SailPoint, a Thoma Bravo-backed identity management software company, has announced the initial price range for its US IPO.</li>
<li>The offering is expected to be between $19.00 and $21.00, implying a market cap of ~$11B at the midpoint, up ~61% vs. take-private transaction valuation of ~$6.9B in 2022.</li>
<li>I see modest post-listing upside for SailPoint stock, and the company plans to use only ~$690M to repay a portion of its $1.5B+ debt.</li>
</ul>


Austin-Based SailPoint, a Thoma Bravo-backed identity management software company, has announced the initial price range for its US IPO.
The offering is expected to be between $19.00 and $21.00, implying a market cap of ~$11B at the midpoint, up ~61% vs. take-private transaction valuation of ~$6.9B in 2022.
I see modest post-listing upside for SailPoint stock, and the company plans to use only ~$690M to repay a portion of its $1.5B+ debt.


SailPoint IPO Valuation Update: Modest Upside, Only ~$690M Will Be Used To Repay a Portion Of Debt