Ping Identity Announces Upsize and Pricing of Follow-on Offering of Common Stock by Selling Shareholders
July 08 2020 - 8:22PM
Business Wire
Ping Identity Holding Corp. (NYSE: PING) (“Ping Identity”), the
Intelligent Identity solution for the enterprise, today announced
the upsize and pricing of a public follow-on offering of 8,977,968
shares of its common stock by certain selling shareholders at
$32.00 per share. Certain of the selling shareholders have also
granted the underwriters a 30-day option to purchase up to an
additional 1,346,695 shares of common stock on the same terms and
conditions. The offering was upsized from the previously announced
offering size of 7,500,000 shares of Ping Identity’s common stock.
This offering will not dilute ownership of any existing investors.
Ping Identity will not receive any proceeds from the sale of shares
by the selling shareholders, and will not issue any shares of its
common stock in the offering. The offering is expected to close on
July 13, 2020, subject to customary closing conditions.
Goldman Sachs & Co. LLC, BofA Securities, RBC Capital
Markets and Citigroup will act as lead book-running managers for
the proposed offering, and Barclays, Credit Suisse, Wells Fargo
Securities and Deutsche Bank Securities are acting as book-running
managers for the proposed offering. Piper Sandler, Raymond James,
Stifel, William Blair, BTIG and Mizuho Securities are acting as
co-managers for the proposed offering.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission (the “SEC”) on July 8, 2020. This offering is being made
only by means of a prospectus, copies of which may be obtained
from: Goldman Sachs & Co. LLC, Attention: Prospectus
Department, 200 West Street, New York, NY 10282, by telephone at
1-866-471-2526, or by e-mail at prospectus-ny@ny.email.gs.com; or
BofA Securities, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, Attention: Prospectus Department,
or by email at dg.prospectus_requests@bofa.com; or RBC Capital
Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281,
Attention: Equity Syndicate Department, by telephone at
1-877-822-4089, or by e-mail at equityprospectus@rbccm.com; or
Citigroup Global Markets Inc. c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, or by telephone
at (800) 831-9146.
Copies of the registration statement can be accessed by visiting
the SEC’s website at www.sec.gov. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect Ping Identity’s
current intentions, expectations or beliefs regarding the proposed
common stock offering. These statements may be preceded by,
followed by or include the words "aim," "anticipate," "believe,"
"estimate," "expect," "forecast," "intend," "likely," "outlook,"
"plan," "potential," "project," "projection," "seek," "can,"
"could," "may," "should," "would," "will," the negatives thereof
and other words and terms of similar meaning. Forward-looking
statements include all statements that are not historical facts.
Such forward-looking statements are subject to various risks and
uncertainties. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. There is no assurance
that any forward-looking statements will materialize. You are
cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of this date. Ping
Identity does not undertake any obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments, or otherwise.
About Ping Identity
Ping Identity is the Intelligent Identity solution for the
enterprise. We enable companies to achieve Zero Trust
identity-defined security and more personalized, streamlined user
experiences. The Ping Intelligent Identity™ platform provides
customers, workforce, and partners with access to cloud, mobile,
SaaS and on-premises applications across the hybrid enterprise.
Over half of the Fortune 100 choose us for our identity expertise,
open standards, and partnerships with companies including Microsoft
and Amazon. We provide flexible identity solutions that accelerate
digital business initiatives, delight customers, and secure the
enterprise through multi-factor authentication, single sign-on,
access management, intelligent API security, directory, and data
governance capabilities.
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version on businesswire.com: https://www.businesswire.com/news/home/20200708005934/en/
Media Contact: Kristin Miller press@pingidentity.com Tel-
720.728.1033
Investor Relations Contact: Nick Allen Tel: 720.728.1007
investor@pingidentity.com
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