- 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."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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