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. (KNBE) has successfully completed a public offering of 9,200,000 shares of its Class A common stock at $25.75 per share, including the underwriter's full option for an additional 1,200,000 shares. This offering, upsized from an initial 8,000,000 shares, will not provide any proceeds to KnowBe4 as the shares are sold by existing stockholders. The offering received approval from the U.S. Securities and Exchange Commission on November 10, 2021, and was managed by leading financial firms including Morgan Stanley and Goldman Sachs.

Positive

• Successful upsizing of public offering to 9,200,000 shares from 8,000,000 shares indicates strong demand.
• Share price set at $25.75 reflects confidence in market value.

Negative

• Company will not receive any proceeds from the sale of shares as they are sold by stockholders, which could limit funding for future growth.

TAMPA BAY, Fla., Nov. 15, 2021 (GLOBE NEWSWIRE) -- KnowBe4, Inc. (“KnowBe4”) (Nasdaq: KNBE) today announced the closing of its previously announced underwritten public offering of 9,200,000 shares of its Class A common stock by certain selling stockholders at a price to the public of $25.75 per share, which includes the full exercise of the underwriters’ option to purchase 1,200,000 shares of KnowBe4’s Class A common stock from the selling stockholders. The offering was upsized from a previously announced offering size of 8,000,000 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. 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 November 10, 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 public offering size for KnowBe4 (KNBE)?

KnowBe4 announced a public offering of 9,200,000 shares of its Class A common stock.

What was the share price for KnowBe4's latest public offering?

The shares were offered at a price of $25.75 each.

Who were the underwriters for KnowBe4's public offering?

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

Will KnowBe4 receive proceeds from the recent share offering?

No, KnowBe4 will not receive any proceeds from the sale of shares, as they are sold by existing stockholders.

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

The registration statement was declared effective by the SEC on November 10, 2021.