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OFFON

SOLARWINDS CORPORATION

(SWI)
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SolarWinds shares rise 3.2 percent in downsized market debut

10/19/2018 | 11:34am EST
SolarWinds Corp. CEO Kevin Thompson and employees celebrate the company's IPO during the Opening Bell at the NYSE in New York

(Reuters) - SolarWinds Corp's shares rose as much as 3.2 percent in their downsized U.S. market debut on Friday, giving the enterprise software maker a market value of about $4.80 billion.

The company's shares opened at $15.41, about 2.7 percent above its initial public offering price of $15.

The Austin, Texas-based company had initially filed to sell 42 million shares and expected the offering to be priced between $17 and $19 apiece.

The company cut the IPO size after stockholders, who were initially selling 25 million shares, chose not to sell any shares. SolarWinds increased its offering size by 8 million shares and cut the target price range to between $15 and $16 per share.

It finally sold 25 million shares at $15 apiece on Thursday, at the low end of its target price range, raising $375 million in total proceeds, which it expects to use to pay down debt. (https://bit.ly/2P8GGSN)

SolarWinds, whose clients include Accenture, oil giant Chevron, defense contractor Lockheed Martin, provides management software and operates in an industry expected to grow annually at 6.6 percent to around $53.6 billion by 2021, according to International Data Corporation.

The company was taken private in a $4.5 billion deal in 2015 by investment firms Thoma Bravo LLC and Silver Lake Partners, which also holds stakes in Tesla, Alibaba Group, An
t Financial, Dell Technologies and Didi Chuxing. (https://reut.rs/2yqaKja

Silver Lake is the company's biggest shareholder with a 44.3 percent stake after the offering. Thoma Bravo - an investor in cyber firm McAfee - holds 36.1 percent.

SolarWinds reported revenue of $398.6 million for the first six months of 2018, up 17 percent from a year earlier. Net loss, however, widened to $86.9 million in the same period, from $45.7 million a year ago.

Its main competitors include International Business Machines Corp, KKR-owned BMC Software, and NetScout Systems, the company said in a filing.

Goldman Sachs & Co, J.P. Morgan, Morgan Stanley, and Credit Suisse were the lead underwriters for the offering.

(Reporting by Bharath Manjesh and Aparajita Saxena in Bengaluru; Editing by Arun Koyyur)


ę Reuters 2018
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ONE STOP SYSTEMS, INC. 3.93% 4.739 Delayed Quote.14.00%
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11/16SolarWinds May Seek Acquisitions
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11/09SOLARWINDS CORP Management's Discussion and Analysis of Financial Condition and Result..
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More news
Analyst Recommendations on SOLARWINDS CORPORATION
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Financials (USD)
Sales 2021 715 M - -
Net income 2021 -70,8 M - -
Net Debt 2021 1 153 M - -
P/E ratio 2021 -32,8x
Yield 2021 -
Capitalization 2 302 M 2 302 M -
EV / Sales 2021 4,83x
EV / Sales 2022 4,40x
Nbr of Employees 2 155
Free-Float 23,5%
Chart SOLARWINDS CORPORATION
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Technical analysis trends SOLARWINDS CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 14,47 $
Average target price 20,67 $
Spread / Average Target 42,8%
EPS Revisions
Managers and Directors
Sudhakar Ramakrishna President, Chief Executive Officer & Director
James Barton Kalsu CFO, Treasurer, Chief Accounting Officer & EVP
William G. Bock Non-Executive Chairman
Douglas G. Hibberd President-Business Operations & Executive VP
Jason Wallace Bliss Secretary, Chief Administrative Officer & EVP
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