Engagesmart Raises $338M Via IPO At $26/Share, Begins Trading Today

  • Customer engagement software and integrated payments solutions provider Engagesmart Inc ESMT priced 14.55 million shares at $26 per share in its initial public offering.
  • The company had earlier expected the IPO price to be $23 - $25 per share.
  • EngageSmart is offering 13 million shares, and existing selling shareholders are offering the rest of the shares.
  • The estimated gross proceeds for the company total $338 million.
  • The underwriters have a 30-day option to purchase additional shares up to 2.18 million.
  • EngageSmart will not receive any proceeds from the sale of shares by the selling shareholder.
  • The shares will likely begin trading on the NYSE today, under the ticker symbol "ESMT."
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