berlin1

Jules Financial Enterprise

2755 South Federal Highway Suite #4, Boynton Beach, FL 33435
Contact Person: Job J. Jules
E: support@jjulesenterprise.com
P: 561-234-6700

Sprinklr stock set to start trading, as downsized IPO priced below expected range

Economy, Finance

Sprinklr Inc.’s downsized initial public offering priced below the expected range, lowering what the customer-experience software company raised to $266 million from a previous expectation of up to $380 million. The company said overnight that it sold 16.625 million shares in the IPO which priced at $16 a share, compared with a previous expectation of an offering of 19.000 million shares to price between $18 and $20 a share. At the IPO pricing, Sprinklr was valued at $4.01 billion. The stock is expected to begin trading Wednesday on the NYSE under the ticker symbol “CXW.” Morgan Stanley, J.P. Morgan, Citigroup, Barclays and Wells Fargo Securities are the lead book-running managers. The company recorded a net loss of $41.8 million on revenue of $386.9 million for the fiscal year ended Jan. 31, after a loss of $39.1 million on revenue of $324.3 million the year before. The company is going public at a time that the Renaissance IPO ETF has gained 2.7% over the past three months while the S&P 500 has advanced 8.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

%d bloggers like this: