SailPoint was valued at $12.8 billion after its shares debuted in line with their offer price on Thursday, marking a tepid return to the stock market for the Thoma Bravo-backed identity security company.

SailPoint execs await the stock's first trade at the Nasdaq on its IPO day Thursday. · Brian Sozzi. The identity management tech firm is no stranger to public markets. Thoma Brav

SailPoint Inc. and a group of shareholders including its main backer, Thoma Bravo, raised $1.38 billion in an enlarged initial public offering for the enterprise security software company, pricing shares at the top of a marketed range.