Pivotal Software, Inc. Announces Launch of Its Initial Public Offering

April 9, 2018 Pivotal Team

San Francisco, CA, April 9, 2018 — Pivotal Software, Inc. (“Pivotal”) today announced the launch of its initial public offering of 37,000,000 shares of its Class A common stock. Pivotal is offering 33,117,000 shares of its Class A common stock and General Electric, the selling stockholder, is offering 3,883,000 shares of Class A common stock (which represents approximately 20% of General Electric’s position in Pivotal). The initial public offering price is expected to be between $14.00 and $16.00 per share. The underwriters of the offering will also have a 30-day option to purchase from Pivotal up to an additional 5,550,000 of its Class A common stock. Pivotal has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “PVTL.”

Morgan Stanley, Goldman Sachs & Co. LLC and Citigroup are acting as lead book-running managers for the offering. BofA Merrill Lynch, Barclays, Credit Suisse, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are acting as book-running managers. KeyBanc Capital Markets and William Blair as well as Mischler Financial Group, Inc., Ramirez & Co., Inc., Siebert Cisneros Shank & Co., L.L.C. and The Williams Capital Group, L.P. are acting as co-managers.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department.

A registration statement, including a preliminary prospectus, relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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.

About Pivotal
Founded in 2013, Pivotal Software, Inc., combines our leading cloud-native platform, tools, and methodology to empower the world’s largest organizations to adapt to change and build great software. Our technology unleashes developer productivity, while fulfilling our mission to transform how the world builds software.

Source: Pivotal Investor Relations

Contacts:
Helyn Corcos
Investor Relations 
hcorcos@pivotal.io

Michael Lee
Media Relations
press@pivotal.io


©2018 Pivotal Software, Inc. All rights reserved. Pivotal is a trademark and/or registered trademark of Pivotal Software, Inc. in the United States and/or other countries.

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