Cybersecurity company Netskope has commenced the roadshow for its initial public offering (IPO) of its Class A common stock.
The company has submitted a registration statement on Form S-1 to the US Securities and Exchange Commission (SEC) to offer 47,800,000 shares of its Class A common stock to the market.
According to reports from Reuters, Netskope is aiming for a valuation of up to $6.5bn.
All shares in this offering are being issued by Netskope itself. Furthermore, the company plans to provide underwriters with a 30-day option to acquire an additional 7,170,000 shares of its Class A common stock to manage over-allotments.
The anticipated price range for the IPO is set between $15.00 and $17.00 per share.
Netskope has sought to list its Class A common stock on the Nasdaq Global Select Market.
Morgan Stanley and J.P. Morgan are designated as the lead book-running managers for the offering.
BMO Capital Markets, TD Cowen, Citizens Capital Markets, Deutsche Bank Securities, Mizuho, RBC Capital Markets and Wells Fargo Securities, will serve as additional book-running managers.
Oppenheimer & Co., BTIG, KeyBanc Capital Markets, Piper Sandler, William Blair, Santander, and Credit Agricole CIB will also participate as bookrunners.
Netskope focuses on addressing the requirements of security and networking teams by delivering optimised access and real-time, context-based security for users, devices, and data, regardless of location.
The Netskope One platform, featuring its Zero Trust Engine and NewEdge network, is used by thousands of customers, including more than 30% of the Fortune 100 companies.
It is said to help in mitigating risk and ensuring good visibility and control over cloud, AI, SaaS, web, and private applications.
“Cybersecurity company Netskope initiates roadshow for IPO” was originally created and published by Verdict, a GlobalData owned brand.
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