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One of Darktrace’s largest shareholders to sell a third of shares after lock-up
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One of the largest shareholders in Darktrace is to sell a third of its shares in the British cybersecurity firm, in a move brokered at the end of a lock-up that prevents insiders selling their stakes in the recently floated company.
Deep Defence, a subsidiary of private equity firm Vitruvian Partners, is to sell 11m shares in Darktrace worth about £70m at the company’s closing price on Tuesday.
Shares in the Cambridge-based firm closed down a further 7% to 632.5p as investors concerned about a widespread sell-off of the company’s stock from Wednesday pushed its share price to a two-month low.
Vitruvian controls 31.84m shares in Darktrace, about 7% of its 153.25m publicly traded free float. It appointed brokers Berenberg to handle the sale to
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