Sprinklr Prices Downsized IPO At $16/Share, Trading Begins Today

Customer experience software maker Sprinklr Inc NYSECXM priced 16.625 million shares at $16 per share to raise $266 million in its initial public offering (IPO)…

  • The IPO was previously marketed at $18 – $20 per share, Bloomberg reported. The company also slashed the number of shares sold.
  • The current offer price values the IPO at $4 billion.
  • Sprinklr was last valued at $2.7 billion when it raised financing in 2020.
  • The underwriters have a 30-day option to purchase additional shares up to 1.66 million.
  • The shares will begin trading on the NYSE from today under the symbol “CXM.”
  • Certain existing stockholders, including the Founder, Chairman, CEO, and entities affiliated with Hellman & Friedman LLC, Battery Ventures, and ICONIQ Strategic Partners, have agreed to purchase 3.125 million out of the 16.625 million shares offered by Sprinklr.
  • Morgan Stanley (NYSE: MS), JPMorgan Chase & Co (NYSE: JPM), Barclays PLC (NYSE: BCS), and Wells Fargo & Co (NYSE: WFC) led the IPO.
  • Sprinklr works with clients like Microsoft Corp (NASDAQ: MSFT), McDonald’s Corp (NYSE: MCD), and Cisco Systems Inc (NASDAQ: CSCO) to help brands interact with customers online. The software offerings include social media management, social advertising, and content marketing.
  • Sprinklr’s top investors include…

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