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KnowBe4 Stock Gains 27% On Acquisition Proposal From Vista Equity Partners

Shares of KnowBe4, Inc. (KNBE) are currently gaining over 27% on Monday morning after the security software company said it received acquisition proposal from Vista Equity Partners.

KNBE is currently trading at $21.99, up $4.69 or 27.11%, on the Nasdaq. The stock opened its trading at $21.66 after closing Friday's trading at $17.30. The stock has traded between $13.78 and $29.50 in the past 52-week period.

KnowBe4 confirmed the receipt of a non-binding proposal from Vista Equity Partners to acquire the company for $24 per share in cash. The proposal represents a 39% premium to KnowBe4's closing price on September 16, 2022.

The Board formed a special committee to review the proposal and other potential value creation opportunities to determine the course of action that it believes is in the best interests of KnowBe4 and its stockholders.

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