SANTA BARBARA, Calif., Aug. 06, 2018 (GLOBE NEWSWIRE) -- Sonos, Inc. ("Sonos") (NASDAQ:SONO), the creator of the wireless home sound system, today announced the closing of its initial public offering of 15,972,221 shares of its common stock, including the full exercise by the underwriters of their option to purchase 2,083,333 shares of common stock, at a public offering price of $15.00 per share. In total, Sonos sold 6,388,888 shares of common stock and the selling stockholders sold 9,583,333 shares of common stock. Sonos received gross proceeds of $95.8 million from the offering before deducting underwriting discounts and commissions and estimated offering expenses.  Sonos did not receive any proceeds from the sale of the shares by the selling stockholders. The shares are listed for trading on the Nasdaq Global Select Market under the symbol "SONO."

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC acted as lead book-running managers for the offering. Allen & Company LLC, RBC Capital Markets, LLC, Jefferies LLC, KKR Capital Markets LLC, acted as bookrunners. Raymond James & Associates, Inc. and Stifel acted as co-managers for the offering.

A registration statement relating to the offering has been filed with, and declared effective by, the Securities and Exchange Commission. 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.

Source: Sonos 

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