Apple device management firm Jamf prices IPO at $26, seeks to raise $468M

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in General Discussion
Software development and services company Jamf, known for specialized tools that help businesses deploy Apple devices, on Tuesday updated the size and price of its forthcoming initial public offering.




Jamf set its offer at $26.00 for 18,000,000 shares of common stock which, if fulfilled, will see the firm raise $468 million. The company announced the significant IPO size and price hike in a press release.

If the IPO goes according to plan, Jamf will receive net proceeds of about $319.7 million minus underwriting discounts and commissions. That cache will be used to repay debts, with the remainder earmarked for "general corporate purposes."

According to the company, 13,500,000 shares will be offered directly by Jamf, with the remaining 4,500,000 shares coming from selling shareholders.

The upsized offering arrives a week after the Minneapolis-based software and services provider announced intent to trade 16,000,000 shares priced between $17 to $19 per share. A U.S. Securities and Exchange Commission on Monday showed the IPO set at $23 for a registered 18,400,000 shares.

Jamf shares are expected to begin trading on the Nasdaq Global Select Market on Wednesday under ticker symbol "JAMF." The offering period will close on Friday.

Hints of the planned IPO surfaced in June when regulatory documents showed Jamf was aiming to raise at least $100 million.

Founded in 2002, Jamf develops and maintains mobile device management solutions for Apple's ecosystem of products. The firm's technologies enable businesses, including Apple itself, to quickly deploy and manage fleets of iPhone, iPad, Mac and Apple TV devices.

Comments

  • Reply 1 of 12
    charlesncharlesn Posts: 123member
    So a week ago JAMF was pricing the IPO shares to raise $272-304 million. And 7 days later they think shares are worth anywhere from 37-53% more than that?! Plus they're increasing the float by 15%?! All I can say is that it must've been one helluva week. 
  • Reply 2 of 12
    Rayz2016Rayz2016 Posts: 6,665member
    Is this the device management company Apple didn’t buy?
  • Reply 3 of 12
    Imagine buying stock in a company that’s a year away from being Sherlocked.
  • Reply 4 of 12
    Imagine buying stock in a company that’s a year away from being Sherlocked.
    How do you mean?
  • Reply 5 of 12
    Rayz2016Rayz2016 Posts: 6,665member
    Imagine buying stock in a company that’s a year away from being Sherlocked.
    How do you mean?
    Apple recently bought Fleetsmith.

    https://www.cnbc.com/2020/06/24/apple-acquires-device-management-company-fleetsmith.html

    So I can see why JAMF would want to IPO as soon as possible, and why I won't be buying any of their shares.
    edited July 2020 williamlondon
  • Reply 6 of 12
    Duplicate 
    edited July 2020
  • Reply 7 of 12
    My thoughts...

    Apple will use the Fleetsmith acquisition to focus on schools and personal device management. This will still greatly impact Jamf’s bottomline hence the rush to IPO. 

    Some enterprise features have already been removed from Fleetsmith.

    Fleetsmith is not a very mature product by any means especially when compared to Jamf. 

    Apple has provided Jamf with guidance on acquisitions such as the security company they purchased recently. They’re still working closely together from what I’ve heard. 
    pscooter63Rayz2016
  • Reply 8 of 12
    flydogflydog Posts: 890member
    charlesn said:
    So a week ago JAMF was pricing the IPO shares to raise $272-304 million. And 7 days later they think shares are worth anywhere from 37-53% more than that?! Plus they're increasing the float by 15%?! All I can say is that it must've been one helluva week. 
    Final IPO pricing is based on demand, not on what “they think shares are worth.”
  • Reply 9 of 12
    flydogflydog Posts: 890member

    Rayz2016 said:
    Imagine buying stock in a company that’s a year away from being Sherlocked.
    How do you mean?
    Apple recently bought Fleetsmith.

    https://www.cnbc.com/2020/06/24/apple-acquires-device-management-company-fleetsmith.html

    So I can see why JAMF would want to IPO as soon as possible, and why I won't be buying any of their shares.
    What does Apple buying Fleetsmith have to do with JAMF wanting an IPO?

    The answer is nothing.   The JAMF board didn’t wake up on June 24 to the news of Apple buying Fleetsmith, then 2 weeks later have an IPO plan in place. It takes the average company at least 6 months to execute an IPO from the time the decision is made. 
    williamlondon
  • Reply 10 of 12
    Rayz2016Rayz2016 Posts: 6,665member
    mrmacgeek said:
    My thoughts...

    Apple will use the Fleetsmith acquisition to focus on schools and personal device management. This will still greatly impact Jamf’s bottomline hence the rush to IPO. 

    Some enterprise features have already been removed from Fleetsmith.

    Fleetsmith is not a very mature product by any means especially when compared to Jamf. 

    Apple has provided Jamf with guidance on acquisitions such as the security company they purchased recently. They’re still working closely together from what I’ve heard. 
    Fair point. I’d heard about complaints about stuff being removed. 
  • Reply 11 of 12
    Rayz2016Rayz2016 Posts: 6,665member

    flydog said:

    Rayz2016 said:
    Imagine buying stock in a company that’s a year away from being Sherlocked.l
    How do you mean?
    Apple recently bought Fleetsmith.

    https://www.cnbc.com/2020/06/24/apple-acquires-device-management-company-fleetsmith.html

    So I can see why JAMF would want to IPO as soon as possible, and why I won't be buying any of their shares.
    What does Apple buying Fleetsmith have to do with JAMF wanting an IPO?

    The answer is nothing.   The JAMF board didn’t wake up on June 24 to the news of Apple buying Fleetsmith, then 2 weeks later have an IPO plan in place. It takes the average company at least 6 months to execute an IPO from the time the decision is made. 
    Also true.  I shall withdraw my comment. 
  • Reply 12 of 12
    Rayz2016 said:
    Is this the device management company Apple didn’t buy?
    A lot of tech companies use JAMF, so I’m not sure if they would have a problem with Apple owning them. 
    Perhaps, Apple buys a stake in JAMF when it goes public. 

    They certainly couldn’t “Sherlock” JAMF because it would cost more in litigation than if Apple just buys them out either before the IPO, or just owning the majority of shares after its release. 

    I would put my money on Apple buying a stake in JAMF, for now. 
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