Investor Alert

Sept. 23, 2021, 11:50 a.m. EDT

EngageSmart shares soar 42% in trading debut

Shares of EngageSmart Inc. (NYS:ESMT) ,a Massachusetts-based customer engagement and payments software company, soared 42% in their trading debut Thursday, after the company's 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 is trading on the New York Stock Exchange, under the ticker "ESMT." J.P. Morgan, Goldman Sachs, BofA Securities and Citigroup were the lead underwriters. The company going public at a time that the Renaissance IPO ETF (PSE:IPO) has gained 8% in the year to date, while the S&P 500 (S&P:SPX) has gained 17%.

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