KnowBe4 Announces Launch of Proposed Follow-On Offering
KnowBe4, Inc. (NASDAQ: KNBE) has initiated a follow-on public offering of 8,719,740 shares of Class A common stock. The offering comes from existing stockholders, with an additional 1,307,961 shares available for underwriters. Notably, KnowBe4 will not receive any proceeds from this sale. Major financial institutions including Morgan Stanley and Goldman Sachs are leading the offering, which is pending SEC registration. The company's mission focuses on enhancing security awareness training and phishing simulation services.
- The offering allows existing stockholders to sell their shares, potentially increasing liquidity.
- Involvement of reputable underwriters enhances credibility in the market.
- KnowBe4 will not receive any proceeds from the sale, limiting capital for growth.
- The large number of shares offered could dilute existing shareholders' value.
TAMPA BAY, Fla., Aug. 09, 2021 (GLOBE NEWSWIRE) -- KnowBe4, Inc. (NASDAQ: KNBE), provider of the leading security awareness training and simulated phishing platform, today announced that it has commenced a follow-on public offering of its Class A common stock pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission (the “SEC”). Certain existing stockholders of KnowBe4 are offering 8,719,740 shares of Class A common stock. In addition, the underwriters of the offering will have a 30-day option to purchase up to an additional 1,307,961 shares of Class A common stock from the selling stockholders. KnowBe4 will not receive any proceeds from the sale of the shares by the selling stockholders.
Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities and KKR Capital Markets, LLC will act as lead bookrunners for the proposed offering. Citigroup will act as a passive bookrunner for the proposed offering. Canaccord Genuity, Cowen, Needham & Company, Piper Sandler and Truist Securities will act as co-managers for the proposed offering.
The proposed offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, 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.
A registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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.
Investor Relations Contact:
Ken Talanian
ir@knowbe4.com
FAQ
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