SendGrid, Inc. (NYSE: SEND), a leading digital communication platform, today announced it filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed follow-on public offering of 6,251,000 shares of its common stock. The offering is expected to consist of 5,651,000 shares to be offered by certain selling stockholders and 600,000 shares to be offered by SendGrid. In addition, certain of the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an aggregate of 937,650 additional shares of common stock.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC will act as joint book-running managers for the proposed offering. William Blair & Company, L.L.C., KeyBanc Capital Markets Inc., Piper Jaffray & Co., Stifel, Nicolaus & Company, Incorporated and Canaccord Genuity LLC will act as co-managers.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or email at email@example.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866- 803-9204, or email: firstname.lastname@example.org.
Pursuant to this offering, SendGrid announced today that Morgan Stanley & Co. LLC, the lead book-running manager in SendGrid’s recent initial public offering, is releasing a lock-up restriction with respect to certain shares of SendGrid’s common stock held by certain officers and directors of SendGrid. The release will take effect concurrently with this offering, and the shares may be sold only in connection with this offering. Except for the sale pursuant to this registered offering, the lock-up restrictions shall remain in full force and effect.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.