Today’s IPO for Xactly Corporation (NYSE: XTLY) opened for trading at $8.00 after pricing 7,037,500 shares of its common stock at a price to the public of $8.00 per share, below the expected $10-$12 range. Shares have since moved higher to $8.78, up 9.8%.
In addition, Xactly has granted the underwriters a 30-day option to purchase up to an additional 1,055,625 shares of common stock to cover over-allotments, if any.
J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are acting as joint lead book-running managers for the offering with UBS Securities LLC also acting as a book-running manager. Needham & Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers for the offering.
Xactly is a leading provider of enterprise-class, cloud-based, incentive compensation solutions for employee and sales performance management.