Shares of Jamf (NASDAQ: JAMF) plummeted by as much as 11% today after the company announced a follow-on offering. As of 12:25 p.m. EST on Tuesday, the stock was down 8%.
Jamf is not directly issuing and selling any shares through the offering and will not receive any proceeds from the deal. Instead, existing shareholders are looking to sell 10 million shares in an orderly fashion. The underwriters will have an option to purchase an additional 1.5 million shares from the shareholders to sell to investors. Jamf, a technology company that helps enterprise organizations manage their Apple hardware deployments, went public over the summer.
Image source: Apple.
Source Fool.com