Dropbox Announces Pricing of Initial Public Offering
March 22 2018 - 6:46PM
Business Wire
Dropbox today announced the pricing of its initial public
offering of 36,000,000 shares of its common stock at a price to the
public of $21 per share. The shares are expected to begin trading
on the NASDAQ Global Select Market on March 23, 2018 under the
symbol “DBX.” Dropbox is offering 26,822,409 shares of Class A
common stock and selling stockholders are offering 9,177,591 shares
of Class A common stock. The offering is expected to close on March
27, 2018, subject to customary closing conditions.
In addition, Dropbox has granted the underwriters a 30-day
option to purchase up to 5,400,000 additional shares of Class A
common stock at the initial public offering price less underwriting
discounts.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are
joint lead bookrunning managers. Deutsche Bank Securities, Allen
& Company LLC, BofA Merrill Lynch, RBC Capital Markets,
Jefferies, and Macquarie Capital (USA) Inc. are acting as joint
book running managers. Canaccord Genuity, JMP Securities, KeyBanc
Capital Markets, and Piper Jaffray are acting as co-managers for
the offering.
The offering will be made only by means of a prospectus. Copies
of the prospectus related to the offering may be obtained from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, NY 10282, email:
prospectus-ny@ny.email.gs.com, telephone: 1-866-471-2526, fax:
1-212-902-9316; or
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at
866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.
A registration statement related to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Dropbox
Dropbox is a leading global collaboration platform that's
transforming the way people and teams work together. With more than
500 million registered users across 180 countries, we’re on a
mission to unleash the world’s creative energy by designing a more
enlightened way of working. Dropbox is headquartered in San
Francisco, CA, and has 12 offices around the world.
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