Cloud company Sumo Logic to offer 14.8 million shares in planned IPO, priced at $17 to $21 each

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Cloud company Sumo Logic set terms for its initial public offering on Monday, with plans to offer 14.8 million shares, priced at $17 to $21 each. The company has applied to list on Nasdaq under the ticker “SUMO.” There are eight banks underwriting the deal, led by Morgan Stanley. Proceeds of the deal will be used for general corporate purposes. “Sumo Logic is the pioneer of Continuous Intelligence, a new category of software, which enables organizations of all sizes to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing,” says the company’s prospectus.
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