Samsara Announces Exercise and Closing of Underwriters' Over-Allotment Option in Initial Public Offering

Published: Jan. 19, 2022 at 3:23 PM CST

SAN FRANCISCO, Jan. 19, 2022 /PRNewswire/ -- Samsara Inc. ("Samsara") (NYSE: IOT) announced today that the underwriters of the company's initial public offering ("IPO") exercised their previously disclosed over-allotment option and have purchased 3,546,882 shares of Class A common stock (the "Additional Shares"). The net proceeds to Samsara from the sale of the Additional Shares were approximately $77.9 million. After giving effect to the sale of Additional Shares, the total number of shares sold by Samsara in the IPO was 38,546,882 and net proceeds of the IPO were approximately $846.7 million after deducting underwriting discounts and commissions and before estimated offering expenses.

Samsara logo (PRNewsfoto/Samsara)
Samsara logo (PRNewsfoto/Samsara)

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan, and Allen & Company LLC acted as lead book-running managers for the IPO. RBC Capital Markets, Wells Fargo Securities, Evercore ISI, and William Blair acted as book-running managers for the IPO. Cowen, Wolfe | Nomura Alliance, Academy Securities, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., and Siebert Williams Shank acted as co-managers for the IPO.

A registration statement relating to the sale of these securities has been filed with, and declared effective by, the Securities and Exchange Commission. The IPO was made only by means of a prospectus. Copies of the final prospectus related to the IPO may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, by telephone at (212) 339-2220 or by email at allenprospectus@allenco.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

About Samsara
Samsara is the pioneer of the Connected Operations Cloud, which allows businesses that depend on physical operations to harness IoT (Internet of Things) data to develop actionable business insights and improve their operations. Samsara operates in North America and Europe and serves tens of thousands of customers across a wide range of industries including transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, and food and beverage. The company's mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

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