NORWALK, Conn., 21st Oct 2020– Datto Holding Corp (NYSE: MSP) the leading global provider of cloud-based software and technology solutions purpose-built for delivery by managed service providers announced the pricing of its initial public offering of 22 million shares of its common stock at a price to the public of $27 per share.
The underwriters have the option to purchase up to an additional 33 million shares of common stock from Datto at the initial public offering price, less underwriting discounts and commissions.
The shares start trading today on NYSE under the ticker symbol “MSP” raised $594 million in an initial public offering. The offering is expected to close on October 23, 2020, subject to customary closing conditions.
Datto will receive net proceeds of approximately $549.5 million after deducting underwriting discounts, commissions and estimated offering expenses, and intends to use the net proceeds from the IPO to repay outstanding borrowings under its term loan and revolving credit facilities.
Morgan Stanley, BofA Securities, Barclays and Credit Suisse are acting as lead book-running managers for the offering. Citigroup, Jefferies, RBC Capital Markets, Evercore ISI, BMO Capital Markets and Macquarie Capital are acting as joint book-running managers, and Mizuho Securities, William Blair, Ramirez & Co., Inc. and Siebert Williams Shank are acting as co-managers for the offering.