Market Overview

Apple Device Management Software Maker Jamf Raises IPO Hopes To $368M

Apple Device Management Software Maker Jamf Raises IPO Hopes To $368M

Jamf Holding Corp. has increased the expected price range for its initial public offering, it said in a filing with the United States Securities and Exchange Commission Monday.

What Happened

The Minneapolis-based company makes software for enterprises to set up, manage, and secure their Apple Inc. (NASDAQ: AAPL) devices, including iPhones, iPads, and Macs.

Jamf said it now expects to price its IPO, slated to happen later this week, in the range of $21 to $23.

The company is offering 13.5 million shares, and existing stakeholders are offering another 2.5 million shares, meaning it could raise anywhere between $336 million and $368 million at the current pricing.

Jamf, at the time of announcing the launch of the IPO last week, said it was expecting to price its IPO between $17 and $19.

Underwriters for the IPO, which include JPMorgan Chase & Co. (NYSE: JPM), Barclays PLC (NYSE: BCS), and subsidiaries of Goldman Sachs Group Inc. (NYSE: GS), and Bank of America Corp. (NYSE: BAC), will still have a greenshoe option to purchase 2.4 million additional shares within 30 days of the offering.

Why It Matters

The new IPO range values Jamf between $2.44 billion and $2.68 billion.

Majority stakeholder Vista Equity Partners will own 77% of the company's outstanding common stock at the end of the offering, and 74.9% if the underwriters exercise the overallotment option.

Private funds Dragoneer Investment Group and Tiger Global Management have expressed interest in purchasing about $50 million worth of shares each, at the IPO price, Jamf said.

In a previous filing with the SEC, the company said it had about 40,000 clients as of June, including International Business Machines Corp. (NYSE: IBM), SAP SE (NYSE: SAP), and Apple itself.


Related Articles (AAPL)

View Comments and Join the Discussion!

Posted-In: Jamf Securities and Exchange CommissionNews Offerings IPOs Tech Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at