Benzinga | Sep 23, 2021 05:50AM EDT

Engagesmart Raises $338M Via IPO At $26/Share, Begins Trading Today

* Customer engagement software and integrated payments solutions provider Engagesmart Inc (NYSE:ESMT) priced 14.55 million shares at $26 per share in its initial public offering.

* The company had earlier expected the IPO price to be $23 - $25 per share.

* EngageSmart is offering 13 million shares, and existing selling shareholders are offering the rest of the shares.

* The estimated gross proceeds for the company total $338 million.

* The underwriters have a 30-day option to purchase additional shares up to 2.18 million.

* EngageSmart will not receive any proceeds from the sale of shares by the selling shareholder.

* The shares will likely begin trading on the NYSE today, under the ticker symbol "ESMT."