09:10 AM EST, 02/04/2025 (MT Newswires) -- SailPoint said Tuesday it has launched a roadshow for its proposed initial public offering of 50 million common shares expected to be priced between $19 and $21 per share.

The cybersecurity firm said it is offering 47.5 million of the shares, with its parent Thoma Bravo offering the remaining 2.5 million shares. SailPoint also said it plans to give the underwriters a 30-day option to buy 7.5 million more shares at the IPO price, less discounts and commissions.

The company said it plans to use the net proceeds to repay part of its term loan, settle equity awards and equity appreciation rights, pay fees under the advisory services deal with Thoma Bravo and for general corporate purposes.

SailPoint said it will not receive any proceeds from the sale of shares by selling stockholders.

The company said it has applied to list its shares on the Nasdaq under the "SAIL" ticker.