Freshworks announced the launch of its I.P.O..
The software company plans to sell 28.5 million shares of Class A common stock at a rate of $36 per share. Stock will trade on the Nasdaq Global Select Market as “FRSH,” effective immediately and running through September 24th. In addition, Freshworks has granted the underwriters a 30-day option to purchase up to an additional 2.85 million shares at this price, minus underwriting discounts and commissions.
Freshworks noted that the IPO remains subject to “customary closing conditions.” Morgan Stanley, J.P. Morgan and BofA Securities will serve as lead book-running managers.