WASHINGTON (dpa-AFX) - Jamf Holding Corp., the standard in Apple Enterprise Management, announced the pricing of its initial public offering of 18.00 million shares of its common stock at a price to the public of $26.00 per share. The offering was upsized from the previously announced offering size of 16.00 million shares.
Of the offered shares, 13.50 million shares are being offered by Jamf and 4.50 million shares are being offered by certain of Jamf's existing selling shareholders.
The underwriters have the option to purchase up to an additional 2.70 million shares of common stock from the selling shareholders at the initial public offering price, less underwriting discounts and commissions.
Jamf said it will not receive any proceeds from any sale of shares by the selling shareholders.
The shares are expected to begin trading on The Nasdaq Global Select Market on July 22, 2020, under the ticker symbol 'JAMF'. The offering is expected to close on July 24, 2020.
Jamf noted that it will receive net proceeds of about $319.7 million after deducting underwriting discounts and commissions. It plans to use the net proceeds from the IPO to repay all of its outstanding borrowings under its term loan and any associated prepayment penalties and accrued and unpaid interest to the date of repayment, and the remainder of such net proceeds will be used for general corporate purposes.
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