Rapid7 Announces Pricing of Public Offering of Common Stock
OREANDA-NEWS. Rapid7, Inc., a leading provider of analytics solutions for security and IT operations, announced today the pricing of an underwritten public offering of 5,180,000 shares of its common stock at a price to the public of $22.00 per share. Of the shares being offered, 1,500,000 are being offered by Rapid7 and the remaining 3,680,000 shares are being offered by existing stockholders. Certain of such existing stockholders have granted the underwriters a 30-day option to purchase up to an additional 770,000 shares of common stock in the offering at the public offering price. The gross proceeds to Rapid7 from the offering, before underwriting discounts and commissions and offering costs, are expected to be $33.0 million. Rapid7 intends to use the net proceeds from the proposed offering for working capital and general corporate purposes. The offering is expected to close on or about January 30, 2018, subject to satisfaction of customary closing conditions.
Barclays Capital Inc. and RBC Capital Markets, LLC are acting as joint lead book-running managers for the offering. KeyBanc Capital Markets Inc. and Stifel, Nicolaus & Company, Incorporated are acting as book-running managers. Cowen and Company, LLC, Raymond James & Associates, Inc., William Blair & Company, L.L.C. and BTIG, LLC are acting as co-managers.
The securities described above are being offered pursuant to an effective shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission (the “SEC”) on June 2, 2017. The offering may be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.