Cyber risk management company Tenable closed out its first day of trading up 31.5 percent, after jumping 40 percent in its public market debut Thursday.
Shares opened at $33.00, nudging the company’s market value above $3 billion, and closed at $30.25 per share.
The company raised $250 million in the public offering, pricing its 10.9 million shares at $23 a piece, above the expected range of $20 to $22 per share. The stock trades on the Nasdaq under the ticker symbol “TENB.”
It’s an impressive fundraising for cybersecurity IPOs and particularly sizable for Tenable’s niche, which is subscription-based cyber risk management tools. The company offers tools for companies to quantify in dollars the damage that could be caused by various types of security breaches, and caters to executives and board members worried about the risk from breaches and the cybersecurity professionals who work for them.
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