Benzinga | Jul 15, 2020 06:04AM EDT

Apple Device Management Software Maker Jamf Plans To Raise Up To $304M In IPO

Jamf, which makes software for enterprises to manage their Apple Inc. (NASDAQ:AAPL) devices, announced the pricing for its initial public offering on Tuesday.

The Minnesota-based company said it will sell 13.5 million shares, and other existing stakeholders will sell 2.5 million shares in the IPO.

Jamf is expecting to price its offering between $17 and $19 per share, suggesting it could raise between $272 million and $304 million.

JPMorgan Chase & Co. (NYSE:JPM), Barclays PLC (NYSE:BCS), and subsidiaries of Goldman Sachs Group Inc. (NYSE:GS), Bank of America Corp. (NYSE:BAC) are acting as lead book-running managers for the IPO.

The underwriters will have an additional option to purchase 2.4 million shares within 30 days of the offering.

Jamf shares will list at the Nasdaq Stock Market under the ticker "JAMF."

Vista Equity Partners is the majority stakeholder in Jamf, having purchased the company in 2017.

At the time of filing for the IPO with the Securities and Exchange Commission earlier this month, Jamf said it had more than 40,000 enterprise customers, including the International Business Machines Corp. (NYSE:IBM) and SAP SE (NYSE:SAP).