MINNEAPOLIS - Jamf (NASDAQ:JAMF), a company specializing in Apple (NASDAQ:AAPL) device management and security for businesses, has set the price for its latest public stock offering at $18.25 per share. The offering, which consists of 8,956,522 shares, is being conducted by investment funds affiliated with Vista Equity Partners. The closing of the offering is anticipated on May 16, 2024, pending customary closing conditions.
In conjunction with the offering, Jamf has also announced its intention to repurchase 2,000,000 shares of its common stock as part of the transaction, at the same per-share price. This repurchase is contingent upon the successful completion of the public offering and will be financed using the company's available cash reserves.
The offering is not dependent on the stock repurchase, and there is no guarantee that the repurchase will occur. Jamf will not profit from the stock sale by Vista Equity Partners and will cover all associated costs except for underwriting discounts and commissions.
Leading financial institutions, including Morgan Stanley, Goldman Sachs & Co. LLC, and J.P. Morgan, are managing the offering process as joint lead book-running managers. A cadre of other firms is also involved as joint book-running managers and co-managers.
Prospective investors are advised to review the offering's prospectus and any related documents, which are available on the SEC's website or upon request from the managing financial institutions.
This announcement, based on a press release statement, does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities may not be sold in any jurisdiction where such an offer, solicitation, or sale would be unlawful without registration or qualification under the securities laws of such jurisdiction.
Jamf's forward-looking statements in the press release are subject to risks and uncertainties, and actual results may differ materially. The company competes in a dynamic and rapidly evolving industry, which could impact the success of the offering and the stock repurchase.
As of the date of the press release, Jamf has made no commitment to update these forward-looking statements in light of new information or future events.
InvestingPro Insights
As Jamf (NASDAQ:JAMF) navigates its latest public stock offering, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, Jamf boasts a market capitalization of $2.62 billion, reflecting its standing in the industry.
Despite a negative P/E ratio of -24.14, which indicates investor caution about current profitability, Jamf's revenue growth remains robust. Over the last twelve months as of Q1 2024, the company has experienced a revenue increase of 15.47%, underscoring its expanding operations and market reach.
InvestingPro Tips suggest that Jamf's gross profit margin of nearly 80% is a strong indicator of its pricing power and cost control measures, which are critical factors for potential investors to consider. The company's fair value, as assessed by InvestingPro, stands at $23.0, slightly below the analyst target of $24, offering a nuanced perspective on the stock's potential value.
For investors interested in a deeper analysis, InvestingPro provides additional insights on Jamf's financials and market performance. With a total of 17 more InvestingPro Tips available, subscribers can gain an edge in understanding the intricacies of Jamf's financial landscape. To access these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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