Wednesday, April 4, 2018

SendGrid Launches Follow On Offering

SendGrid, the provider of transactional email services which has major operations in Orange County, has filed for a follow-on public offering, the company said on Tuesday. The firm--had its IPO a little more than five months ago on the NYSE--said that it will be offering 6,251,00 shares of its common stock. Most of that will come "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. SendGrid recently tripled its office space in Orange County, with a new office in Irvine.

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