Compass Inc., the American real estate technology firm that is backed by SoftBank, has sold shares in its initial public offering (IPO) at $18 each, leading it to raise $450 million U.S.

The IPO pricing of Compass was at the low end of expectations. Compass set a price range of $18-$19 per share, downsized from its initial target of $23 to $26.

Analysts said the downsized IPO indicates that investors are growing fatigued with new stock offerings as companies have already raised $36 billion U.S. through IPOs in the first quarter, up 360% from the same period last year, according to data from Refinitiv.

New York-based Compass was founded in 2012 by former Twitter (NYSE:TWTR) engineer Ori Allon and former Goldman Sachs (NYSE:GS) executive Robert Reffkin. It covers 46 metropolitan statistical areas in the U.S. and works with over 19,000 agents.

Compass has raised $1.5 billion U.S. from investors including SoftBank, Goldman Sachs and the Canada Pension Plan Investment Board.

Compass shares are due to begin trading on the New York Stock Exchange today (April 1) under the ticker symbol “COMP.”

Goldman Sachs, Morgan Stanley and Barclays are the lead underwriters on the IPO.