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Sumo Logic Prices IPO Above Indicated Range, In Third Software Startup Listing This Week

Sumo Logic Inc (NASDAQ: SUMO) priced its initial public offering above indicted range on Wednesday.

What Happened: The cloud-based data analytics company disclosed that it plans to issue 14.8 million shares at an offer price of $22 per share. The common stock will trade under the symbol “SUMO” on the Nasdaq Stock Market starting Thursday.

Estimates suggest that the IPO would generate $325.6 million net proceeds, before adjusting for underwriting discounts, commissions, and other offering expenses accrued and …

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