SailPoint Announces Launch of Initial Public Offering

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SailPoint Announces Launch of Initial Public Offering

Media Relations for SailPoint
Samantha Person
Senior Manager, Corporate Communications
512-923-4053
Samantha.Person@SailPoint.com

SailPoint, a leader in unified identity security for enterprises, today announced that it has launched the roadshow for its proposed initial public offering of 50,000,000 shares of its common stock, 47,500,000 shares of which are being offered by SailPoint and 2,500,000 shares of which are being offered by certain existing stockholders. In addition, SailPoint intends to grant the underwriters a 30-day option to purchase an additional 7,500,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $19.00 and $21.00 per share.

SailPoint intends to use its net proceeds from this offering to repay a portion of its term loan, settle outstanding equity awards and equity appreciation rights, pay outstanding fees under the advisory services agreement with Thoma Bravo, and for general corporate purposes. SailPoint will not receive any proceeds from the sale of the shares offered by the selling stockholders.

SailPoint has applied to list its shares of common stock on Nasdaq Global Select Market under the ticker symbol “SAIL.”

Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the proposed offering. J.P. Morgan and Evercore ISI are acting as book-running managers. BofA Securities, Barclays, Jefferies, RBC Capital Markets, BMO Capital Markets, BTIG, Mizuho, Piper Sandler, TD Cowen and Truist Securities are also acting as bookrunners. Netrex Capital Markets, Academy Securities, CastleOak Securities, L.P., Penserra Securities LLC and R. Seelaus & Co., LLC are acting as co-managers.

The proposed offering is being made only by means of a prospectus. Copies of the preliminary prospectus related to this offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by emailing prospectus@morganstanley.com, or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone: 1-866-471-2526 or by email at Prospectus-ny@ny.email.gs.com.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About SailPoint

SailPoint equips the modern enterprise to seamlessly manage and secure access to applications and data through the lens of identity – at speed and scale. As a category leader, we continuously reinvent identity security as the foundation of the secure enterprise. SailPoint delivers a unified, intelligent, extensible platform built to defend against today’s dynamic, identity-centric cyber threats while enhancing productivity and efficiency. SailPoint helps many of the world’s most complex, sophisticated enterprises create a secure technology ecosystem that fuels business transformation.