Israeli Tufin is up 30% on its first day on Wall Street
Tufin wanted to raise $ 12-14 per share, and eventually raised the highest bid in the range of $ 14 per share, raising $ 108 million. The company’s post-issuance value is $ 480 million
The share of Israeli Internet security company Tufin is up 29% on its first day on Wall Street to $ 18 per share. The company yesterday completed the pricing of its IPO on the New York Stock Exchange.
Tufin wanted to raise $ 12-14 per share, and eventually raised the highest asking price of $ 14 per share, raising $ 108 million. The value of the company after the round is $ 480 million.
“Globes” revealed Tufin’s planned IPO last November. On Wall Street, there are quite a few Israeli companies (or companies with ties to Israel) that deal with the hot field of cyber security, including Check Point, CyberCare, Imperva and more. A prominent line of underwriters accompanied Tufin in the issue: JPMorgan, Barclays and Jefferies, and Itam Oppenheimer, Piper Jaffray, Stiple and William Blair. The issue was accompanied by Erez Rosenberg of the PWC accountancy firm. If the share’s performance in the first few days is good and the underwriters exercise their option, the amount raised will reach $ 124 million.