Cybersecurity co KnowBe4 jumps after upsized secondary share offering

FS KKR Capital

11/11/2021 15:38

** KnowBe4  KNBE.O  shares jump as much as 12.2% to 4-month
high $29.50 on Thurs after co prices secondary offering
    ** Co late Weds announced 8 mln shares, up from 7 mln, sold
by certain holders at $25.75  urn:newsml:reuters.com:*:nGNX5L2XmV
    ** Venture capital firm Elephant Partners, KKR  KKR.N  and
Goldman Sachs  GS.N  affiliate were the sellers, taking their
respective stakes to ~22%, ~16% and ~7%, per filing https://www.sec.gov/ix?doc=/Archives/edgar/data/1664998/000162828021022243/knbe-20211108.htm#i045115f90e0146e58e9af11752723206_172
 
    ** KNBE has ~171.4 mln shares outstanding for nearly $5 bln
market cap, per Refinitiv data
    ** Morgan Stanley, Goldman Sachs, BofA and KKR Capital lead
bookrunners for offering
    ** KNBE went public in Apr after IPO of 9.5 mln shares
priced at $16
    ** Avg rating among 12 analysts covering KNBE is 'buy' and
median PT is $33 - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))