Wednesday, April 4, 2018

SendGrid Launches Follow On Offering

Denver-based SendGrid, the provider of transactional email services, has filed for a follow-on public offering, just short of six months after its IPO on the NYSE. The company said that it will be offering 6,251,00 shares of its common stock, with most of that from "certain selling stockholders", who will offer up 5,651,000 shares of its stock. 600,000 shares will be offered by SendGrid. The move is not unusual for newly public companies, where the original private shareholders in the company generally are looking for some liquidity after an IPO. SendGrid did not name the investors who will be offering their stock in the secondary offering, however, the company's venture backers include Bain Capital Ventures, Bessemer Venture Partners, Foundry Group, and Highway 12 Ventures.