Smartsheet Commences Initial Public Offering of Class A Common Stock

BELLEVUE, Wash., April 16, 2018 /PRNewswire/ -- Smartsheet Inc., a leading provider of a cloud-based platform for work execution, today announced that it has commenced an initial public offering of its Class A common stock pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (SEC). Smartsheet is proposing to sell 10,000,000 shares of Class A common stock and certain selling shareholders are proposing to sell 1,632,950 shares of Class A common stock. The estimated price range for the initial public offering is $10.00 to $12.00 per share. Smartsheet has been approved to list on the NYSE under the ticker symbol "SMAR." In addition, Smartsheet has granted the underwriters a 30-day option to purchase up to an additional 1,744,942 shares of Class A common stock, on the same terms and conditions, to cover over-allotments, if any. Smartsheet will not receive any proceeds from the sale of the shares by the selling shareholders.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, and Jefferies LLC are acting as lead book-running managers for the offering. RBC Capital Markets LLC is acting as joint bookrunner. Canaccord Genuity LLC, William Blair & Company, L.L.C., and SunTrust Robinson Humphrey, Inc. are acting as co-managers.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204, or by email at [email protected]; or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at [email protected].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

SOURCE Smartsheet

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