January 17, 2021
Business News

Software Maker Sumo Logic Rises in Debut After $326 Million IPO – Yahoo Finance

(Bloomberg) — Sumo Logic Inc. climbed as much as 25% in its trading debut after raising $326 million in a U.S. initial public offering priced above the targeted range.
The software companys shares opened trading Thursday at $26.64 after it sold 14.8 million of them for $22 apiece on Wednesday. Sumo Logic, based in Redwood City, California, had marketed the shares for $17 to $21 each.
The shares were up 15% to $25.29 at 1:26 p.m. in New York trading, giving the company a market value of $2.49 …

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