Proofpoint IPO Debuts Stronger Than Expected (PFPT)

Apps & Software

Published: April 20, 2012 6:36 am

Last Updated: April 28, 2020 3:48 am

Proofpoint, Inc. (NASDAQ: PFPT) is supposed to be an IPO to watch. The cloud-based security and compliance solutions provider has priced its initial public offering of 6,329,421 shares of common stock at $13.00 per share. Of the total offering, Proofpoint sold 5,130,000 shares and selling stockholders sold 1,199,421 shares.

The company’s description here is as follows: “Proofpoint is an innovative security-as-a-service vendor that delivers data protection solutions that help medium- and large-sized organizations protect their data from attack and enable them to effectively meet the complex and evolving regulatory compliance and data governance mandates that have been spawned from highly publicized data breaches.”

Credit Suisse Securities, and Deutsche Bank Securities are the joint book runners for the offering; co-managers are listed as RBC Capital Markets, Pacific Crest Securities, and First Analysis Securities. Proofpoint and the selling stockholders granted the underwriters a 30-day option to purchase up to 769,500 additional shares to cover over-allotments.

Just last week it was expected to be about 6.2 million shares with a price range of $10.00 to $12.00 per share. The original filing was only for up to $50 million in shares.

JON C. OGG

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps