Netskope, a cybersecurity and cloud networking company, announced the closing of its initial public offering of 54,970,000 shares of Class A common stock at $19 per share. The transaction included the full exercise of the underwriters’ option to purchase 7,170,000 additional shares, bringing the total net proceeds to approximately $992.2 million after underwriting discounts and before offering expenses.
Following the IPO, Netskope disclosed a fully diluted share count of 503.8 million, implying a market capitalization of roughly $9.6 billion based on the offering price. Morgan Stanley and J.P. Morgan led the underwriting syndicate, with BMO Capital Markets, TD Cowen, Citizens Capital Markets, Mizuho, RBC Capital Markets, Wells Fargo Securities, and Deutsche Bank Securities also acting as book-running managers.
Additional bookrunners included Oppenheimer & Co., BTIG, KeyBanc Capital Markets, Piper Sandler, William Blair, Santander, and Credit Agricole CIB. Netskope stated that its One platform, Zero Trust Engine, and NewEdge network provide real-time, context-driven security and optimized access across cloud, AI, SaaS, web, and private applications.