Home Stock Market McAfee costs IPO at $20 a share

McAfee costs IPO at $20 a share


McAfee is ready to go public Thursday.

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McAfee Corp. introduced Wednesday evening its preliminary public providing shall be priced at $20 a share, to lift round $740 million.

That’s on the decrease finish of its projected worth vary of $19 to $22 a share.

The safety software program firm will provide 37 million shares of frequent inventory, with about 31 million supplied by McAfee and 6 million supplied by current stockholders.

McAfee is scheduled to start buying and selling Thursday on the Nasdaq beneath the ticker image “MCFE.”

Learn: McAfee IPO: 5 things to know about the security-software company

Underwriters embrace Morgan Stanley, Goldman Sachs, TPG Capital, BofA Securities and Citigroup. 

The corporate was purchased greater than a decade in the past by Intel Corp.
however a majority stake was bought in 2016 to non-public fairness agency TPG. Thoma Bravo took a minority stake in 2017. After the IPO, TPG, Thoma Bravo and Intel will management about 82.2% of the voting energy.