Netskope Sets Share Price for Upcoming IPO Event
Netskope, a prominent player in modern cloud security and networking, has unveiled the details of its initial public offering (IPO). The company plans to sell 47,800,000 shares of its Class A common stock at a price of $19.00 per share. This move marks a significant milestone for Netskope, emphasizing its growth and strategic position in the market.
Trading Information
Trading for these shares is expected to commence on the Nasdaq Global Select Market under the ticker symbol "NTSK." This initiative symbolizes a substantial step forward for Netskope as it enters the public market with expectations of strong investor interest. The company foresees the offering closing soon after the trading begins, pending the fulfillment of typical closing conditions.
Opportunities for Underwriters
Netskope has also provided underwriters a 30-day option to purchase up to an additional 7,170,000 shares to accommodate any over-allotments. This strategy showcases Netskope's commitment to ensuring strong market performance and addressing investor demand effectively.
Key Financial Managers
The offering will be led by Morgan Stanley and J.P. Morgan as the book-running managers, supported by several other financial institutions such as BMO Capital Markets, TD Cowen, and Wells Fargo Securities. This robust team is well-equipped to handle the IPO process and ensure a smooth transition into the public sphere.
Regulatory Aspects
A registration statement pertaining to this security has received approval from the Securities and Exchange Commission. The offering will only be conducted through a prospectus, allowing potential investors to understand more about the offering.
About Netskope
Netskope stands out as a leader in cloud security and networking, catering to the needs of security and networking teams alike. With a focus on optimized access and real-time, context-based security, Netskope supports various environments, securing data and activities seamlessly. Over 30% of the Fortune 100 companies utilize the Netskope One platform, emphasizing its reliability and effectiveness in enhancing security measures.
Commitment to Performance
By offering unparalleled visibility and control over cloud services, AI, and SaaS applications, Netskope ensures organizations reduce risks associated with data security while also improving performance.
Frequently Asked Questions
What is Netskope's IPO share price?
Netskope has priced its IPO shares at $19.00 each.
When will Netskope's shares start trading?
Netskope's shares are expected to begin trading on the Nasdaq Global Select Market shortly after the IPO date.
How many shares is Netskope offering in its IPO?
The company is offering 47,800,000 shares in its initial public offering.
Who are the lead managers for the IPO?
Morgan Stanley and J.P. Morgan are the lead book-running managers for this offering.
What products does Netskope offer?
Netskope provides cloud security solutions ensuring comprehensive visibility and control over cloud applications, enhancing overall security and performance.
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