Orrick represented the underwriters in the initial public offering of PagerDuty, Inc., a global leader in digital operations management. After giving effect to the exercise in full of the underwriters’ option to purchase 1,360,500 additional shares, PagerDuty sold 9,860,500 shares and the selling stockholders sold 570,000 shares at price to the public at $24.00 per share. PagerDuty’s shares began trading on the New York Stock Exchange on April 11, 2019, under the ticker symbol “PD.”
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as lead book-running managers for the offering. RBC Capital Markets, LLC and Allen & Company LLC acted as joint bookrunners. KeyBanc Capital Markets Inc., Piper Jaffray & Co., William Blair & Company, L.L.C. and BTIG, LLC acted as co-managers.
The Orrick team advising on the IPO was led by partners John Bautista, Christopher Austin and Bill Hughes, and supported by counsel Lynne Hirata and associates Kenneth Marx and Jevon Potts, among others.