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SolarWinds Corp.
SWI, -0.53%
opened 2% above its initial IPO price of $ 15 per share, then declined, the number of shares offered was reduced by 40% and expected price setting. The first transaction was $ 15.30 at 10:49 am EST for 2.4 million shares. The shares have traded in the range of $ 14.65 to $ 15.50 since opening, and were recently 1.9% below the IPO price, just above the lows of the day. The Texas-based information technology infrastructure software company's stock market listing was in the lower end of the $ 15- $ 16 range, a lower than expected level, ranging from 17 at 19 dollars. The number of shares offered was reduced from 42 million to 25 million shares, the number of shares offered to selling shareholders rising from 25 million to 5 million and the number of shares offered by the company rising from 17 million to 20 million. With a total of 301.94 million shares outstanding, the IPO price values SolarWinds at $ 4.57 billion.
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