Ping Identity Holding (PING) expects to raise $188 million in an initial public offering on Thursday, September 19th, IPO Scoop reports. The company plans to issue 12,500,000 shares at $14.00-$16.00 per share.
In the last year, Ping Identity Holding generated $215 million in revenue and had a net loss of $10.8 million. The company has a market-cap of $1.2 billion.
Goldman Sachs, BofA Merrill Lynch, RBC Capital Markets and Citigroup acted as the underwriters for the IPO and Barclays, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities, Raymond James, Stifel, William Blair, Mizuho Securities and Oppenheimer were co-managers.
Ping Identity Holding provided the following description of their company for its IPO: ” Ping is pioneering Intelligent Identity. We enable secure access to any service, application or API from any device. Our Intelligent Identity Platform can leverage AI and ML to analyze device, network, application and user behavior data to make real-time authentication and security control decisions, enhancing the user experience. Our platform is designed to detect anomalies and automatically insert additional security measures, such as multi-factor authentication, only when necessary. We built our platform to meet the requirements of the most demanding enterprises. Our platform can be deployed across cloud, hybrid and on-premise infrastructures, offers a comprehensive suite of turnkey integrations and is able to scale to millions of identities and thousands of cloud and on-premise applications in a single deployment. As of June 30, 2019, our platform secures over two billion identities globally across our customer base. “.
Ping Identity Holding was founded in 2016 and has 897 employees. The company is located at 1001 17th Street, Suite 100, Denver, CO 80202, US and can be reached via phone at (303) 468-2900 or on the web at http://www.pingidentity.com.
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