PagerDuty, Inc. Announces Closing of Initial Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

SAN FRANCISCO–(BUSINESS WIRE)–PagerDuty, Inc. (NYSE: PD), a global leader in digital operations
management, today announced the closing of its initial public offering
of 10,430,500 shares of its common stock at a public offering price of
$24.00 per share, which includes the full exercise 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, including the
shares sold upon exercise of the underwriters’ option to purchase
additional shares. PagerDuty estimates net proceeds from the offering to
be approximately $213.9 million, after deducting underwriting discounts
and commissions and estimated offering expenses. PagerDuty did not
receive any proceeds from the sale of the shares by the selling
stockholders. The shares began trading on the New York Stock Exchange on
April 11, 2019, under the symbol “PD.”

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as
lead book-running managers for the offering. RBC Capital Markets, LLC
and Allen & Company LLC are acting as joint bookrunners. KeyBanc Capital
Markets Inc., Piper Jaffray & Co., William Blair & Company, L.L.C. and
BTIG, LLC are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Copies of the
final prospectus relating to this offering may be obtained, when
available, from Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, New York 10014; J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or
by email at prospectus-eq_fi@jpmchase.com;
RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th
Floor, New York, NY 10281-8098, by telephone at 877-822-4089 or by email
at equityprospectus@rbccm.com;
or Allen & Company LLC, Attention: Prospectus Department, 711 Fifth
Avenue, 10th Floor, New York, New York 10022, or by email at Dweidlein@allenco.com.

A registration statement relating to these securities has been filed
with, and declared effective by, the U.S. Securities and Exchange
Commission. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

Contacts

Media Contact:
Katy Kenealy
katy@methodcommunications.com

Investor Relations Contact:
Lauren Sloane
The Blueshirt
Group for PagerDuty
investor@pagerduty.com

Source: PagerDuty