Latham & Watkins Represents Sprout Social, Inc. in IPO

Interdisciplinary team advised the Chicago tech company on the offering.

December 13, 2019

Sprout Social, Inc. (“Sprout Social” or the “Company”) has announced the pricing of its initial public offering of 8,823,530 shares of Class A common stock at a price to the public of $17.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,323,529 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. The shares began trading on the Nasdaq Capital Market on December 13, 2019 under the ticker symbol “SPT.” The offering is expected to close on December 17, 2019, subject to the satisfaction of customary closing conditions.

Latham represented Sprout Social in the offering with a capital markets team led by Chicago partners Chris Lueking and Cathy Birkeland, with Chicago associates Scott Westhoff, Jonathan Sarna, Ben Winnett, and Jennifer Tian. Advice was also provided on SEC matters by Washington, D.C. partner Alex Cohen; on benefits and compensation matters by New York partner Bradd Williamson, with New York counsel Rifka Singer and New York associate Alisa Hand; on tax matters by Chicago partner Rene De Vera, with Chicago associate Chris Ohlgart; on sanctions matters by Washington, D.C. partner Les Carnegie; on public company representation matters by Washington, D.C. partner Brian Miller, with Washington, D.C. associates William Hackett and Charlie Guinn; on litigation matters by Washington D.C. partner Erin Brown Jones; and on FINRA matters by New York associate Gail Neely. 

 

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