Jamf Prices Secondary Offering Of 8,956,522 Shares Of Common Stock By Selling Stockholders At A Price Of $18.25/Share And Related Common Stock Repurchase of 2M Shares
Portfolio Pulse from Benzinga Newsdesk
Jamf (NASDAQ:JAMF) announced the pricing of a secondary offering of 8,956,522 shares at $18.25/share by Vista Equity Partners, with an option for underwriters to buy an additional 1,043,478 shares. Jamf will not sell any shares or receive proceeds but will bear costs excluding underwriting fees. Additionally, Jamf plans to repurchase 2M shares concurrent with the offering, funded by existing cash, contingent on the offering's completion.
May 14, 2024 | 12:56 pm
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Jamf's secondary offering and stock repurchase plan indicate a strategic move to manage its share structure and potentially support its stock price. The company's decision to bear the offering's costs could impact its short-term financials.
The secondary offering by Vista Equity Partners and the concurrent stock repurchase by Jamf are strategic equity actions. While Jamf is not selling shares or receiving proceeds, bearing the costs of the offering could have a short-term financial impact. The repurchase plan could be seen as a positive signal to the market, potentially supporting the stock price, but the actual impact will depend on investor perception and the execution of these plans.
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