(Alliance News) - A consortium of Darktrace PLC shareholders sold GBP187.5 million in shares, a 3.6% stake, the investment bank running sale said Friday.
The 25 million shares in the cybersecurity firm were placed at 750 pence each with institutional investors, according to joint global coordinator and bookrunner Jefferies International Ltd.
Shares in Cambridge-based Darktrace were down 7.4% at 759.50 pence in London on Friday morning.
Darktrace will receive no proceeds, as the sale was of existing shares.
KKR Dark Aggregator LP, Summit DT CLN Holdings 4 and Balderton Capital SFI SLP, the three sellers, initially planned to sell USD225 million worth of shares, around GBP167.2 million. The placing was first announced after the market close on Thursday.
The selling trio are subject to lock-up arrangements that were agreed at Darktrace's IPO in April, but the placing coordinators agreed to waive these in respect of Thursday's placing.
In August, these shareholders, along with Hoxton Ventures Fund I Opportunities III LP, sold 23.2 million Darktrace shares for 620 pence each, totalling GBP143.5 million.
Alongside Jefferies, Berenberg Bank and KKR Capital Markets LLC played the same role in the placing, while Needham & Co and Piper Sandler Co were joint bookrunners.
By Josie O'Brien; josieobrien@alliancenews.com
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Darktrace (DARK)