N-able, Inc. announced that it has entered into a definitive agreement for a private placement of 20,623,282 shares of common stock at a price of $10.91 per share for gross proceeds of $225,000,007 on July 11, 2021. The transaction was led by Canada Pension Plan Investment Board, and will include participation from Madison Avenue International LP; a fund managed by Madison Avenue Partners, LP, TPG Public Equity Partners Master Fund, L.P.; a fund managed by TPG Pep Advisors, LLC, TPG Public Equity Partners, LP., a fund managed by TPG Pep Advisors, LLC, TPG Public Equity Partners Long Opportunities Master Fund, L.P., a fund managed by TPG Pep Advisors, LLC, CVI Investments, Inc.,Sunriver Master Fund Ltd, a fund managed by Sunriver Management LLC, Sunriver Long Master Fund Ltd, a fund managed by Sunriver Management LLC, Meridian Fund, Inc. - Meridian Growth Fund, a fund managed by ArrowMark Colorado Holdings, LLC, Darlington Partners II, L.P. a fund managed by Fairview Capital Investment Management, LLC, Darlington Partners, L.P, a fund managed by Fairview Capital Investment Management, LLC and Ghisallo Master Fund LP, a fund managed by Ghisallo Capital Management LLC. The closing of the transaction, which is subject to customary closing conditions, is scheduled to occur on July 19, 2021.

The purchase agreement will terminate upon the termination of the separation and distribution agreement to be entered into by and between company and parent of the company in connection with the distribution, at any time upon the written consent of company and the investors entitled to acquire at least a majority of the shares of company common stock to be issued under the purchase agreement, or on August 11, 2021, if the closing of the transaction has not occurred by such date. The common shares have a lock up period. The transaction exempt from registration under the Securities Act of 1933, as amended.