- The company is offering ordinary shares to public at $44.00 per share
- 3,568,218 will be offered to JFrog’s existing shareholders
- JFrog’s products are available as open-source, self-managed, and SaaS services on AWS, Microsoft Azure, and Google Cloud
JFrog Ltd., the liquid software company has announced the pricing of its initial public offering of 11,568,218 ordinary shares at a price to the public of $44.00 per share. Of the offered shares, 8,000,000 shares are being offered by JFrog and 3,568,218 shares are being offered by certain of JFrog’s existing shareholders.
JFrog will not receive any proceeds from the sale of the shares by the existing selling shareholders. The underwriters have the option to purchase up to an additional 1,735,232 ordinary shares from JFrog at the initial public offering price, less underwriting discounts and commissions.
JFrog’s vision is to enable continuous software updates through liquid software, empowering developers to code high-quality applications that securely flow to end-users without interruption. JFrog products are available as open-source, self-managed, and SaaS services on AWS, Microsoft Azure, and Google Cloud. JFrog is trusted by more than 5,800 customers, with top global brands depending on JFrog to manage their software packages for mission-critical applications. JFrog has offices across North America, Europe, and Asia.
Nasdaq Global Select Market
The shares are expected to begin trading on the Nasdaq Global Select Market on September 16, 2020 under the symbol “FROG.” The offering is expected to close on September 18, 2020, subject to customary closing conditions.
Morgan Stanley, J.P. Morgan and BofA Securities are acting as the lead book-running managers for the offering. KeyBanc Capital Markets, Piper Sandler, Stifel, William Blair, Oppenheimer & Co. and Needham & Company are acting as co-managers for the offering.