Sprout Social (SPT) set terms for its initial public offering, in which the provider of social media services for businesses could raise up to $158.8 million. The Chicago-based company is offering 8.82 million Class A shares in the IPO, which is expected to price between $16 and $18 a share. If the underwriters exercise all of the options to buy additional shares, the company could raise up to $182.65 million. Goldman Sachs and Morgan Stanley are the lead underwriters. There will be 38.1 million Class A shares outstanding after the IPO and 9.8 million Class B shares, with Class A shares entitling holders one vote per share and Class B shares entitling holders 10 votes per share. The company recorded a net loss of $20.9 million on revenue of $78.8 million in 2018, after a loss of $21.9 million on revenue of $44.8 million in 2017.
https://sproutsocial.com/
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