Netskope (NTSK Proposed) increased its IPO’s price range early today to $17.00 to $19.00 – up from $15.00 to $17.00 originally. Netskope, an AI-driven cloud platform operator that provides cybersecurity for big companies, kept the number of shares in its IPO at 47.8 million. Netskope’s IPO will raise $ 860.4 million – if the IPO is priced at the $18.00 mid-point of the new range, according to an S-1/A filing dated Sept. 16, 2025. At pricing, Netskope would have a market cap of about $6.88 billion.
Netskope’s IPO is set for pricing on Wednesday night, Sept. 17, 2025, to trade Thursday, Sept. 18, on NASDAQ.
Morgan Stanley and J.P. Morgan are leading the joint book-running team. BMO Capital Markets, TD Cowen, Citizens Capital, Mizuho, Wells Fargo Securities and Deutsche Bank Securities are also joint book-runners on Netskope’s deal.
Netskope, based in Santa Clara, California, serves a blue-chip clientele that includes Bayer, BMO Financial Group, Colgate-Palmolive, Home Depot, Hugo Boss, LifeLabs, Qualcomm, SunLife Financial, Tata Motors and Tyson Foods, according to the prospectus. The company was founded in 2012.
“Our customers rely on us to protect their sensitive data, stop threats, accelerate their digital interactions, and deliver significantly higher operational simplicity. They include some of the largest and most complex organizations around the world and across industries,” Netskope said in the prospectus.
Netskope counted “more than 30 percent of the Fortune 100 and approximately 18 percent of the Forbes Global 2000” as its customers, as of July 31, 2025, the prospectus said.
Netskope intends to use some of the IPO proceeds to repay some convertible bond debt, the prospectus said. The company had about $518.9 million outstanding in convertible notes – principal and interest – as of July 31, 2025, according to the prospectus.
The company’s financial statements showed that Netskope was not profitable for the 12 months that ended July 31, 2025, when it reported a net loss of $317.32 million on revenue of $609.51 million.
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