KnowBe4 Announces Pricing of Initial Public Offering

Rhea-AI Summary

KnowBe4 announced the pricing of its initial public offering (IPO) of 9,500,000 shares of Class A common stock at $16.00 per share. The IPO consists of 9,000,000 shares offered by KnowBe4 and 500,000 shares from selling stockholders. Underwriters have a 30-day option to purchase an additional 1,425,000 shares. The shares will begin trading on the Nasdaq under the symbol 'KNBE' on April 22, 2021, with the offering expected to close on April 26, 2021. Morgan Stanley, Goldman Sachs, BofA Securities, and KKR are the lead bookrunners for this offering.

Positive

• Pricing of IPO at $16.00 per share.
• Initial offering of 9,500,000 shares, which could raise significant capital.
• Strong demand indicated by underwriters' option to purchase additional shares.

Negative

• Selling stockholders are offering 500,000 shares, which may lead to dilution for existing shareholders.
• KnowBe4 will not receive proceeds from shares sold by selling stockholders.

TAMPA BAY, Fla., April 21, 2021 (GLOBE NEWSWIRE) -- KnowBe4, Inc. ("KnowBe4"), provider of the leading security awareness platform, today announced the pricing of its initial public offering of 9,500,000 shares of its Class A common stock at a price to the public of $16.00 per share. KnowBe4 is offering 9,000,000 shares of its Class A common stock, and certain selling stockholders are offering 500,000 shares of KnowBe4’s Class A common stock. In addition, the underwriters of the initial public offering have been granted a 30-day option to purchase up to an additional 1,425,000 shares of Class A common stock from KnowBe4 at the initial public offering price, less underwriting discounts and commissions. KnowBe4 will not receive any proceeds from any sales of shares by the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market on April 22, 2021 under the symbol "KNBE" and the offering is expected to close on April 26, 2021, subject to customary closing conditions.

Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities and KKR Capital Markets, LLC are acting as lead bookrunners for the offering. Citigroup and UBS Investment Bank are acting as additional bookrunners for the offering. Baird, Canaccord Genuity, Cowen, Needham & Company, Piper Sandler and Truist Securities are acting 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 is being 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 is the IPO price for KnowBe4's shares?

KnowBe4's shares are priced at $16.00 per share.

When will KnowBe4 begin trading on Nasdaq?

KnowBe4 shares are expected to begin trading on Nasdaq on April 22, 2021.

How many shares are being offered in KnowBe4's IPO?

A total of 9,500,000 shares are being offered in KnowBe4's IPO.

What symbol will KnowBe4 trade under?

KnowBe4 will trade under the symbol 'KNBE'.

Who are the lead underwriters for KnowBe4's IPO?

Morgan Stanley, Goldman Sachs, BofA Securities, and KKR Capital Markets are acting as lead bookrunners.

When is the expected closing date for KnowBe4's IPO?

The offering is expected to close on April 26, 2021.