KnowBe4 Announces Closing of Its Initial Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

KnowBe4 has successfully closed its initial public offering (IPO) of 10,925,000 shares of Class A common stock, priced at $16.00 per share. This includes the full exercise of underwriters' options to purchase 1,425,000 shares. Notably, KnowBe4 did not receive proceeds from shares sold by selling stockholders. The shares began trading on Nasdaq under the symbol KNBE on April 22, 2021. The offering involved various lead bookrunners, such as Morgan Stanley and Goldman Sachs, with the SEC declaring the registration statement effective on April 21, 2021.

Positive

• Successful closing of the IPO enhances liquidity and raises profile in the market.
• The IPO allows KnowBe4 to expand its operations and market reach.

Negative

• Selling stockholders received proceeds, which may not directly benefit the company.
• -

TAMPA BAY, Fla., April 26, 2021 (GLOBE NEWSWIRE) -- KnowBe4, Inc. ("KnowBe4") (Nasdaq: KNBE) today announced the closing of its initial public offering of 10,925,000 shares of its Class A common stock at a price to the public of $16.00 per share, which includes 500,000 shares of KnowBe4’s Class A common stock offered and sold by certain selling stockholders and the full exercise of the underwriters’ option to purchase 1,425,000 shares of KnowBe4’s Class A common stock from KnowBe4. KnowBe4 did not receive any proceeds from any sales of shares by the selling stockholders. The shares began trading on the Nasdaq Global Select Market on April 22, 2021 under the symbol "KNBE".

Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities and KKR Capital Markets, LLC acted as lead bookrunners for the offering. Citigroup and UBS Investment Bank acted as additional bookrunners for the offering. Baird, 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 April 21, 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, provider of the leading security awareness platform, is used by approximately 37,000 organizations around the globe. Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. Tens of thousands of organizations rely on KnowBe4 to mobilize their end users as the last line of defense.

Contacts

Investors:
Ken Talanian
IR@knowbe4.com 

Media:
Kathy Wattman
PR@knowbe4.com 

FAQ

What are the details of the KnowBe4 IPO on April 26, 2021?

KnowBe4 closed its IPO of 10,925,000 shares at $16.00 per share, including 1,425,000 shares purchased by underwriters. It began trading on Nasdaq under 'KNBE' on April 22, 2021.

What is the significance of KnowBe4's IPO for investors?

The IPO increases KnowBe4's market visibility and provides funds for expansion, though selling stockholders also benefited without contributing directly to company growth.

Who were the bookrunners for KnowBe4's IPO?

Morgan Stanley, Goldman Sachs, BofA Securities, and KKR Capital Markets were the lead bookrunners for KnowBe4's IPO.