KnowBe4 Announces Closing of Follow-On Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

KnowBe4, Inc. (Nasdaq: KNBE) announced the closing of its underwritten public offering of 11,995,546 shares of Class A common stock at $20.75 per share. This offering was upsized from an initial size of 8,719,740 shares, including the full exercise of the underwriters' option to purchase an additional 1,564,636 shares. Importantly, KnowBe4 will not receive any proceeds from the sale. The offering was led by Morgan Stanley, Goldman Sachs, BofA Securities, and KKR Capital Markets.

Positive

• Upsized offering of 11,995,546 shares indicates strong demand.

Negative

• KnowBe4 will not receive proceeds from the sale, limiting potential capital for growth.

TAMPA BAY, Fla., Aug. 16, 2021 (GLOBE NEWSWIRE) -- KnowBe4, Inc. ("KnowBe4") (Nasdaq: KNBE) today announced the closing of its previously announced underwritten public offering of 11,995,546 shares of its Class A common stock by certain selling stockholders at a price to the public of $20.75 per share, which includes the full exercise of the underwriters’ option to purchase 1,564,636 shares of KnowBe4’s Class A common stock from the selling stockholders. The offering was upsized from a previously announced offering size of 8,719,740 shares. KnowBe4 will not receive any proceeds from any sales of shares by the selling stockholders.

Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities and KKR Capital Markets, LLC acted as lead bookrunners for the offering. Citigroup acted as an additional bookrunner for the offering. Canaccord Genuity, Cowen, Needham & Company, Piper Sandler and Truist Securities acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on August 11, 2021. The offering was made only by means of a prospectus. Copies of the 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; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, or by email at dg.prospectus_requests@bofa.com.

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 KnowBe4

KnowBe4 is the leading provider of “new-school” security awareness training and simulated phishing platform. Our mission is to enable your employees to make smarter security decisions, every day. Through our subscription-based services, your organization will have access to the leading security awareness training platform.

Contacts

Investors:
Ken Talanian
IR@knowbe4.com

Media:
Kathy Wattman
PR@knowbe4.com

FAQ

What is the recent stock offering by KnowBe4 (KNBE)?

KnowBe4 recently closed an underwritten public offering of 11,995,546 shares of Class A common stock at $20.75 per share.

Who underwrote KnowBe4's public offering?

The offering was underwritten by Morgan Stanley, Goldman Sachs, BofA Securities, and KKR Capital Markets.

What will KnowBe4 do with the proceeds from the stock offering?

KnowBe4 will not receive any proceeds from this stock offering, as the shares were sold by certain selling stockholders.

Was KnowBe4's stock offering larger than initially planned?

Yes, the offering was upsized from an initial plan of 8,719,740 shares.

When was the effective date of KnowBe4's registration statement for the offering?

The registration statement was declared effective by the U.S. Securities and Exchange Commission on August 11, 2021.