ServiceNow, Inc. (NOW) said Thursday that it has priced its initial public offering of 11.65 million shares of its common stock at a price to the public of $18.00 per share, which is above the previously estimated range of $15.00 to $17.00 per share.
Of the 11.65 million shares of ServiceNow common stock being offered, 9 million shares are being offered by ServiceNow and 2.65 million shares are being offered by selling shareholders.
The underwriters have been granted a 30-day option to purchase up to an additional about 1.75 million shares of common stock offered by ServiceNow and selling shareholders to cover over-allotments, if any. The shares are expected to begin trading on the New York Stock Exchange on June 29 under the symbol "NOW."
Morgan Stanley & Co. LLC, Citigroup Global Markets, Inc., and Deutsche Bank Securities Inc. are acting as lead book-running managers for the offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC, and UBS Securities LLC are acting as joint book-running managers for the offering. Pacific Crest Securities LLC and Wells Fargo Securities, LLC are acting as co-managers.
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