Sprout Social Announces Closing of Over-Allotment Option

CHICAGO, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Sprout Social, Inc. (“Sprout Social” or the “Company”) (Nasdaq: SPT) announced today the closing of the public offering of 629,603 shares of its Class A common stock at an offering price of $17.00 per share pursuant to a partial exercise by the underwriters of the Company’s initial public offering of their option to purchase additional shares.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as lead book-running managers for the offering. KeyBanc Capital Markets and William Blair also acted as book-running managers. Canaccord Genuity and Stifel acted as co-managers for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from any of the following sources:

• Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at [phone], or by email at [e-mail]; and
  
  
• Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on December 12, 2019. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Sprout Social

Sprout Social offers deep social media listening and analytics, social management, customer care, and advocacy solutions to more than 23,000 brands and agencies worldwide. Sprout’s suite of solutions supports every aspect of a cohesive social program and enables organizations of all sizes to extend their reach, amplify their brand and create the kind of real connection with their consumers that drives their businesses forward. Headquartered in Chicago, Sprout operates across major social media networks, including Twitter, Facebook, Pinterest, Instagram and LinkedIn.

Contact

Media:
Kristin Johnson
Email: [e-mail]
Phone: [phone]

Investors:
Greg McDowell
ICR, LLC
Email: [e-mail]
Phone: [phone]