Thoma Bravo-backed SailPoint valued at $12.8 billion in muted market return.
Jerry
SailPoint was valued at $12.8 billion after its shares debuted in line with their offer price on Thursday, marking a tepid return to the stock market for the Thoma Bravo-backed identity security company.
The Austin, Texas-based company’s stock opened at $23 per share, adding to a string of subdued debuts this year amid heightened investor scrutiny over valuations.
The IPO market’s recovery has been uneven so far in 2025, with traders weighing the push for deregulation against policy uncertainty and a likely delay in rate cuts.
Shares of defense and space firm Karman Holdings, which also started trading on Thursday, soared 36%. But Venture Global’s much-anticipated IPO fell short of expectations last month.
SailPoint first went public in 2017, three years after being acquired by Thoma Bravo, which bought it again in 2022 via a $6.9 billion deal.
The company lets customers, including Detroit automaker General Motors and chocolate maker Hershey, establish and control their security processes.
Source: FINANCE.YAHOO
