The expert says that his first dull appearance in SailPoint did little to reduce the subscription window

On Thursday, the public subscription was a disappointment for anyone Hoping will indicate that technical subscriptions are hot once again.

Trading on the first day ended the first price of $ 23. The stock made a better offer on Friday, closing more than $ 24. But this is not close to the Big Bang and VCS companies.

For example, Servicitan, the last general subscription of technology in December, He was very successful. The share price has decreased from $ 71 to $ 105 on the first day, and it is still trading by about $ 100.

The successive successes were a signal That the subscription window is painful in the painful subscription It finally opens.

Instead, retail investors are discriminatory, not wild enthusiasm.

“I am reluctant to extract a lot of conclusions on the appetite of technology or general subscriptions of programs from it,” said public subscription expert Nick Inhurne, Vice President to search for Renaissance Capital, for Techcrunch. “Although the company has good growth, it may not emerge enough in the scene of cybersecurity to give multiple distinct sales.”

Renaissance Capital is a research company in the public subscription market that also offers a trading box on the Stock Exchange (ETF).

SailPoint was a little bit of strange public subscription because he was not emerging. It was previously a public company until PE Thoma Bravo took especially in 2022, where it was evaluated at $ 6.9 billion at the time. Special stock giant is still the majority.

This was a company to benefit from the public subscription, and not a startup backed by the classic project. VC startups often often have a kind of growth capabilities that excite investors, as was the case with Servicitan.

On the positive side of the SailPoint, the company has made 60 million primary shares at $ 23, higher than its scope, which was previously announced from $ 19 and $ 21. SAILPOINT has made more than $ 1.3 billion, which she will use for operations and pay about $ 1.5 billion of debt that she showed on his books, according to Organizational deposit. It is also about $ 13 billion in the market, and it is a batch of Thoma Bravo.

“In no case, we did not consider this disappointing public subscription.” We moved from mid -20 to $ 20 to $ 25 on the second day. In our minds, it is very successful public subscription. “

However, the height of those looking for a sign that the initial subscriptions can flow again soon (especially the employees of startups in the late stage that is looking for stock and stock options in paper money): signals remain mysterious.