Jamf Hikes Expected IPO Share Price
Minneapolis-based Jamf Holding Corp. has raised the expected price-per-share of its initial public offering, which could be completed as soon as this week. In an amended filing on Monday with the U.S. Securities and Exchange Commission, the company now estimates the IPO price per share in the range of $21 to $23.
IPO pricing is always something of a moving target until the shares are issued for sale. Just last week a Jamf filing indicated that it expected IPO pricing in the range of $17 to $19 per share.
Jamf has filed to register a total of 18.4 million shares. The company is offering 13.5 million shares for sale, and current shareholders are selling 2.5 million shares. Underwriters have the option of purchasing an additional 2.4 million shares from current shareholders.
Per the latest filing the company states “We estimate that our net proceeds from this offering will be approximately $269.5 million, assuming an initial public offering price of $22.00 per share.” That’s $50 million more than Jamf estimated last week under the assumption of an IPO price of $18 per share.
Jamf bills itself as “the standard in Apple Enterprise Management” with a cloud software platform to help businesses and other organizations work with their Apple devices.
A Monday market update from Greenwich, Connecticut-based Renaissance Capital, which closely tracks the IPO markets, listed Jamf as one of 11 “scheduled U.S. IPOs” this week.
Jamf officially filed to go public in late June.
For 2019, the company reported $204 million in revenue, a 39 percent increase compared to the year before. At the same time, the company reported a net loss of $32.6 million for 2019, a 10 percent smaller net loss than the company saw in 2018.
For the first three months of 2020, Jamf reported revenue of $60.4 million, an increase of 37 percent compared to the first quarter of 2019. Jamf saw a net loss of $8.3 million for this year’s first quarter.