The deal valued KnowBe4 at nearly $25 per share, the Wall Street Journal reported.
The stock closed at $21.59 on October 11.
In September, KnowBe4 said it had received a nonbinding proposal from Vista to acquire the company for $24 a share in cash, a nearly 40% premium.
KnowBe4 is a platform for security awareness training and simulated phishing.
The private-equity firms are increasingly turning to private-credit providers, as Vista will likely do to help pay for KnowBe4.
KnowBe4 clocked 36% revenue growth in Q2 to $80.8 million, beating the consensus of $79.4 million. EPS of $0.07 beat the consensus of $0.02.
Price Action: KNBE shares traded higher by 12.6% at $24.30 in the premarket on the last check Wednesday.
See more from Benzinga
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.