Pivotal Software Prices IPO Of 37 Mln Shares At $15/Shr

(RTTNews) - Pivotal Software, Inc. announced pricing of initial public offering of 37 million shares of its Class A common stock at $15.00 per share. The offering is expected to close on April 24, 2018

Pivotal is offering 33.12 million shares of its Class A common stock and General Electric, the selling stockholder, is offering 3.883 million shares of Class A common stock (which represents approximately 20% of General Electric's position in Pivotal).

Pivotal shares are expected to begin trading on the New York Stock Exchange on April 20, 2018 under the ticker symbol "PVTL."

Pivotal has granted the underwriters a 30-day option to purchase up to an additional 5.55 million shares of its Class A common stock.

Morgan Stanley, Goldman Sachs & Co. LLC and Citigroup are acting as lead book-running managers for the offering. BofA Merrill Lynch, Barclays, Credit Suisse, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are acting as book-running managers.