Boston, Mass.-based Rapid7, a provider of security analytics software and services, said on Wednesday that its recent initial public offering (IPO) netted the company over $100 million in new cash.
The company, best known for its Metasploit penetration testing products, said it received approximately $110.4 million in proceeds from the offering, net of underwriting discounts and commissions, but before estimated offering expenses.
All of the 7,417,500 shares sold were offered by Rapid7, including the exercise in full of the underwriters’ option to purchase 967,500 additional shares.
Shares of the security firm opened on Friday, July 17 above its initial $16.00 price, spiking above $25.00 per share by market close, enjoying a gain of roughly 58%. Shares closed at $23.95 on Wednesday, July 22.
Morgan Stanley and Barclays Capital acted as joint book-running managers for the offering.
Rapid7 had raised approximately $93 million in private funding before going public, including a $30 Million round in Dec. 2014 and $50 million in late 2011.
As of March 31, 2015, Rapid had 554 full-time employees, including 117 in product delivery and support, 245 in sales and marketing, 119 in research and development. The company counts more than 3,900 organizations as customers, including 30% of the Fortune 1000.
