Ping Identity launches initial public offering of its common stock

Ping Identity announced that it has launched the roadshow for the initial public offering of its common stock. Ping Identity is offering 12,500,000 shares of its common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”).

The initial public offering price is currently expected to be between $14.00 and $16.00 per share. Ping Identity intends to grant the underwriters the right to purchase up to an additional 1,875,000 shares on the same terms and conditions. The shares have been approved for listing on the New York Stock Exchange under the symbol “PING.”

Ping Identity intends to use the net proceeds received from this offering to repay a portion of its outstanding borrowings under its credit facilities.

Goldman Sachs & Co. LLC, BofA Merrill Lynch, RBC Capital Markets and Citigroup will act as lead book-running managers for the proposed offering, and Barclays, Credit Suisse, Deutsche Bank Securities, and Wells Fargo Securities will act as book-running managers for the proposed offering.

Raymond James, Stifel, William Blair, Mizuho Securities and Oppenheimer & Co. will act as co-managers for the proposed offering.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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