Tufin Announces Upsizing and Pricing of Secondary Public Offering of Ordinary Shares
December 04 2019 - 9:08PM
Business Wire
Tufin Software Technologies Ltd. (NYSE: TUFN) (“Tufin”), a
company pioneering a policy-centric approach to security and IT
operations, today announced that it has upsized and priced a
secondary public offering of 4,279,882 ordinary shares at a public
offering price of $17.00 per share. The offering was upsized from
the previously announced 3,500,000 ordinary shares. The ordinary
shares are being offered by certain selling shareholders pursuant
to a registration statement on Form F-1 filed with the U.S.
Securities and Exchange Commission (the “SEC”). In connection with
the offering, certain selling shareholders have granted the
underwriters a 30-day option to purchase up to an additional
641,982 ordinary shares at the public offering price less the
underwriting discount. The offering is expected to close on
December 9, 2019, subject to customary closing conditions. Tufin
will not receive any proceeds from the sale of ordinary shares.
Tufin’s ordinary shares are listed on the New York Stock
Exchange under the ticker symbol “TUFN.”
J.P. Morgan Securities LLC, Barclays Capital Inc. and Jefferies
LLC are acting as book-running managers in the offering and as
representatives of the underwriters. Oppenheimer & Co. Inc.,
Robert W. Baird & Co. Incorporated, Piper Jaffray & Co.,
Stifel, Nicolaus & Company, Incorporated, William Blair &
Company, L.L.C., and D.A. Davidson & Co. are acting as
co-managers in the offering.
The offering is being made only by means of a prospectus. When
available, the final prospectus for the offering may be obtained
from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone:
1-866-803-9204; or Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone:
1-888-603-5847, or by email at Barclaysprospectus@broadridge.com;
or Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022,
Telephone: 1-877-547-6340, or by email at
Prospectus_Department@Jefferies.com.
A registration statement on Form F-1 related to these securities
has been filed with, and declared effective by, the SEC. The
registration statement can be accessed through 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 may there be any
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Tufin
Tufin (NYSE: TUFN) simplifies management of some of the largest,
most complex networks in the world, consisting of thousands of
firewall and network devices and emerging hybrid cloud
infrastructures. Enterprises select the company’s Tufin
Orchestration Suite™ to increase agility in the face of
ever-changing business demands while maintaining a robust security
posture. The Tufin Orchestration Suite reduces the attack surface
and meets the need for greater visibility into secure and reliable
application connectivity. With over 2,000 customers since its
inception, Tufin’s network security automation enables enterprises
to implement changes in minutes instead of days, while improving
their security posture and business agility.
Forward Looking Statements
This press release contains forward looking statements,
including among other things, statements concerning the completion
of the offering of ordinary shares, and other statements identified
by words such as “could,” “expects,” “intends,” “may,” “plans,”
“potential,” “should,” “will,” “would,” or similar expressions and
the negatives of those terms. Forward-looking statements are not
promises or guarantees of future performance, and are subject to a
variety of risks and uncertainties, many of which are beyond our
control. Actual results could differ materially from those
anticipated in such forward-looking statements as a result of
various risks and uncertainties, which include, without limitation,
market risks and uncertainties and the satisfaction of customary
closing conditions for an offering of securities. These and other
risks and uncertainties are described more fully in the preliminary
prospectus, and in particular in the section captioned “Risk
Factors”, related to the public offering filed with the SEC.
Forward-looking statements speak only as of the date hereof, and,
except as required by law, Tufin undertakes no obligation to update
or revise these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20191204005996/en/
Investor Relations Contact: Ryan Burkart investors@tufin.com
Media Contact: Dan Gaffney fama PR for Tufin (617) 986-5036
tufin@famapr.com
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