Monday, March 12, 2018

Dropbox Sets Estimated IPO Pricing Range

San Francisco-based Dropbox has set its estimated IPO range, saying in an amended S-1 filing this morning that it now expects to sell 36,000,000 shares of its common stock at between $16.00 and $18.00 per share. The company, led by CEO Andrew Houston, is hoping to raise around $745M in the IPO, where it would trade on the Nasdaq Global Select Market under the symbol DBX. Dropbox's IPO is being underwritten by Goldman Sachs & Co. LLC, J.P. Morgan, Deutsche Bank Securities, Allen & Company LLC, BofA Merrill Lynch, RBC Capital Markets, Jefferies, Macquarie Capital, Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, and Piper Jaffray. The company's largest institutional shareholders are Sequoia Capital, Accel Partners, and T. Rowe Price.