Credit: Shutterstock photoSecureWorks, a managed security services provider being spun out of Dell, announced terms for its IPO on Monday.
The Atlanta, GA-based company plans to raise $149 million by offering 9 million shares at a price range of $15.50 to $17.50. At the midpoint of the proposed range, SecureWorks would command a fully diluted market value of $1.4 billion.
SecureWorks was founded in 1999 and booked $340 million in sales for the 12 months ended January 31, 2016. It plans to list on the Nasdaq under the symbol SCWX. BofA Merrill Lynch, Morgan Stanley, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of April 18, 2016.
The article Dell spin-off SecureWorks sets terms for $149 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
