EngageSmart IPO prices above range at $26 a share to value company at $4.2 billion

EngageSmart Inc. /zigman2/quotes/229492983/composite ESMT +4.05% ,a Massachusetts-based customer engagement and payments software company, said its initial public offering priced at $26 a share, above its proposed price range of $23 to $25. The company sold 14.5 million shares to raise $38.8 million at a valuation of $4.2 billion. The stock will start trading on the New York Stock Exchange later Wednesday, under the ticker symbol "ESMT." J.P. Morgan, Goldman Sachs, BofA Securities and Citigroup are the lead underwriters. The company going public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +3.37% has gained 7% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.25% has gained 17%.

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EngageSmart Inc.

US : U.S.: NYSE

$ 20.32

+0.79 +4.05%

Volume: 553,453

Jan. 27, 2023 4:00p

P/E Ratio

233.30

Dividend Yield

N/A

Market Cap

$3.36 billion

Rev. per Employee

$356,953

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Renaissance IPO ETF

US : U.S.: NYSE Arca

$ 28.85

+0.94 +3.37%

Volume: 29,051

Jan. 27, 2023 4:00p

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,070.56

+10.13 +0.25%

Volume: 0.00

Jan. 27, 2023 5:10p