Engagesmart Raises $338M Via IPO At $26/Share, Begins Trading Today

September 23, 2021 5:50 AM | 1 min read | Make a Comment

Customer engagement software and integrated payments solutions provider Engagesmart Inc ESMT priced 14.55 million shares at $26 per share in its initial public offering.
The company had earlier expected the IPO price to be $23 - $25 per share.
EngageSmart is offering 13 million shares, and existing selling shareholders are offering the rest of the shares.
The estimated gross proceeds for the company total $338 million.
The underwriters have a 30-day option to purchase additional shares up to 2.18 million.
EngageSmart will not receive any proceeds from the sale of shares by the selling shareholder.
The shares will likely begin trading on the NYSE today, under the ticker symbol "ESMT."

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