Tenable Announces Proposed Public Offering of Common Stock by Selling Stockholders
Tenable (Nasdaq: TENB) announced a proposed underwritten public offering of 8,000,000 shares of common stock by existing stockholders. The company will not receive proceeds from this offering, which may include an additional 1,200,000 shares through a 30-day underwriter option. J.P. Morgan, Morgan Stanley, and Barclays are joint book-running managers for this offering. The offering is made under an effective shelf registration statement with the SEC, and the final terms will be disclosed in a subsequent prospectus.
- Offering size of 8,000,000 shares indicates stockholder confidence.
- Potential additional share sale of 1,200,000 shares may enhance liquidity.
- No proceeds will go to Tenable, which may limit growth opportunities.
- Dilution risk for existing shareholders due to increased share availability.
COLUMBIA, Md., July 29, 2020 (GLOBE NEWSWIRE) -- Tenable (Nasdaq: TENB), the Cyber Exposure company, today announced the launch of a proposed underwritten public offering of 8,000,000 shares of its common stock by certain existing stockholders of Tenable. Tenable will not receive any of the proceeds from the sale of shares of common stock by the selling stockholders. The selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock from them at the public offering price, less underwriting discounts and commissions.
J.P. Morgan, Morgan Stanley and Barclays are acting as joint book-running managers for the proposed offering.
The proposed offering is being made pursuant to a shelf registration statement, including a base prospectus, filed by Tenable with the Securities and Exchange Commission (“SEC”), which was effective upon filing. The offering may be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 383 Madison Avenue, New York, NY, 10179, by telephone: 1-866-803-9204, or email: prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: 1-888-603-5847. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
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 Tenable
Tenable® is the Cyber Exposure company. Over 30,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include more than 50 percent of the Fortune 500, more than 30 percent of the Global 2000, and large government agencies.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding Tenable’s expectations regarding the completion of the public offering. The words “anticipate,” believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events as of the date hereof. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties are detailed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings that we make from time to time with the SEC, which are available on the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Contact Information
Investor Relations
Andrea DiMarco
investors@tenable.com
Media Relations
Cayla Baker
tenablepr@tenable.com
FAQ
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