Today, shares of KnowBe4 (NASDAQ:KNBE) started trading. Indeed, investors in KNBE stock have seen a nice opening on this IPO, with shares up more than 30% at the time of writing.
This move comes on the heels of an otherwise red day in the markets. Investors seeking growth seem to want to move toward cybersecurity technology companies like KNBE stock. Given the number of data breaches and other cybersecurity threats pertinent to corporate America, KnowBe4’s products are becoming ever-more relevant.
Additionally, it appears the market believes this IPO was underpriced, given today’s move.
For those interested in knowing a bit more about what KnowBe4 does and what happened with this IPO, we’ve got you covered.
What Investors Need to Know About the KNBE Stock IPO Today
- KnowBe4 pegs itself as the “world’s largest integrated platform for security awareness training combined with simulated phishing attacks.”
- Accordingly, the company claims to have more than 37,000 customers using its platform.
- This IPO has been declared the first cybersecurity IPO of the year. Accordingly, those intrigued by this sector seem to have flocked to KNBE stock today.
- KnowBe4 raised $150 million as a result of this IPO.
- Accordingly, 9.5 million shares were issued at $16 per share. Nine million shares were issued by the company, with 500,000 offered by selling shareholders.
- An over-allotment option of an additional 1.4 million shares also exists.
- Reportedly, Goldman Sachs, BofA Securities and KKR Capital Markets led the deal.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.