KnowBe4 Prices Secondary Equity Offering By Selling Stockholder At 3.4% Discount

Security awareness firm KnowBe4 (NASDAQ:KNBE) priced 10.4 million shares offered by certain selling stockholders at $20.75 per share to raise $216.44 million in an upsized secondary offering.
The offer price signifies a 3.4% discount to KnowBe4's Aug. 10 closing price of $21.48.
The selling stockholders initially proposed to sell 8.7 million shares.
The underwriters have a 30-day option to purchase additional shares up to 1.6 million.
KnowBe4 will not receive any proceeds from the offering.
KnowBe4 stock has lost 12.9% year-to-date.
Price Action: KNBE shares are trading higher by 10.80% at $23.28 on the last check Thursday.

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