Okta competitor SailPoint races toward $11.5B IPO

The Cyber ​​Security Agency is hoping for the cellpoint to go back to the public. Now, the company plans to sell $ 1 billion stock and evaluated $ 11.5 billion in its planned IPO.

This is how math works for the proposed offer Declaration Tuesday 47.5 million shares, between 19 and $ 21. Seloma owner Thoma Bravo also plans to sell 2.5 million shares.

Selpoint initiatives provides the identity of identity things and it is a Competitive $ 16 Billion Market-Cap OctaThe

This is not the first time of Selpoint as a public organization. Thoma Bravo was universally traded until the cellpoint was privately taken in 2022, it cost $ 6.9 billion at that time. The private equity giant will still own more than 87% of the company after the IPO.

Organization Its S -1 says in filing It is on the track for the annual revenue of $ 813 until October. Selpoint has reportedly announced the annual knit loss of more than $ 395 million of about $ 700 million income until January 2024; The company says its balance sheet has shown $ 1.5 billion debt, which has more than $ 1 billion debt. The cellpoint says that it will use earnings to solve its debt, as well as funding.

Giving the owners of the cellpoint, the stock can pay very good prices on that range and easily bypasses that expect cash and evaluation.

Founder Mark McClan, who has been the CEO after the acquisition of the Thoma Bravo company, still has more than 1.6 million shares of shares.

“Many founder CEOs do not find their company in the public market for the second time, but I am grateful to do that,” he made his remarks PrivyThe

Since the cellpoint is not a startup, this IPO, which can happen next week, will not be a bargain for the capitalists of any initiative. However, the success of the offer will close them closely. Tea leaves are still reading when VCS and Startups are still bringing Many of their ipo-radi tech startups are publicThe If retail investors shake the stock, it will be another signal that 2025 is not just a window, it can be a good year for opening a door.

Then again, even if investors are hungry for this IPO, other factors can slow down other offers.

Wall Street is a lot of nervous The Trump administration plans to launch the North America Customs Trade War, though these plans have now been postponed for at least one month. If policy events shake markets, technical startups can only continue to hide.