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10 Things To Know About The Thoma Bravo-Proofpoint Deal And Stock Hike

Here’s a look at how Proofpoint can leverage Thoma Bravo’s expertise and track record to its advantage, the likelihood of another buyer coming in with a superior bid for Proofpoint, and why this deal is likely to kick off a tech M&A spree.

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7. Proofpoint’s Valuation Has Increased 32X Since Going Public

Proofpoint went public a decade after its founding, raising $82.3 million as part of an April 2012 initial public offering on the Nasdaq Stock Exchange that valued the company at $385.6 million, or $13 per share. The company’s stock has climbed steadily since its IPO, first surpassing the $50 per share mark in January 2015 and the $100 per share mark in January 2018.

However, Proofpoint’s valuation had largely stagnated the past three years, with the company’s stock closing Friday at $131.78 per share, less than 8 percent higher than the company’s April 20, 2018, closing price of $122.07 per share. The investment community has continued to undervalue Proofpoint, which Wedbush Securities analyst Daniel Ives considers to be “a core asset in the market.”

The company’s stock is up $41.10, or 31.18 percent, to $172.88 per share in trading midday Monday. Prior to the Thoma Bravo acquisition announcement, Proofpoint’s stock had never traded above $140 per share. Once the deal closes in the third quarter of this year, Proofpoint will exit the public markets worth nearly 32 times as much as it was when it debuted on the public markets nearly a decade earlier.

 
 
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