Datto announced the pricing of its initial public offering (“IPO”) of 22,000,000 shares of its common stock at a price to the public of $27.00 per share. The underwriters have the option to purchase up to an additional 3,300,000 shares of common stock from Datto at the initial public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on The New York Stock Exchange on October 21, 2020, under the ticker symbol “MSP”. 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.