SecureWorks, the Atlanta, GA-based wholly-owned subsidiary of Dell which provides information security solutions focused on protecting clients from cyber attacks, has launched its initial public offering of 9m shares of its Class A common stock.
The company has applied to list its shares on the NASDAQ Global Select Market under the symbol “SCWX”.
The IPO price is expected to be between $15.50 and $17.50 per share. The underwriters will also have a 30-day option to purchase up to an additional 1,350,000 shares at the initial public offering price.
The company will use the proceeds for working capital and other general corporate purposes, which may include financing its growth, developing new solutions and enhancements to current solutions, funding capital expenditures, and making investments in, and acquisitions of, complementary businesses, services or technologies.
BofA Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan are acting as lead joint bookrunning managers for the offering. Barclays, Citigroup, Credit Suisse, RBC Capital Markets and UBS Investment Bank are acting as bookrunning managers. Pacific Crest Securities, a division of KeyBanc Capital Markets, Stifel, SunTrust Robinson Humphrey and William Blair are acting as co-managers.
Academy Securities, Ramirez & Co., Inc., Siebert Brandford Shank & Co., L.L.C. and The Williams Capital Group L.P. are acting as junior co-managers.
Led by CEO Michael R. Cote, SecureWorks provides intelligence-driven information security solutions focused on protecting its clients from cyber attacks. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond rapidly to security breaches and predict emerging threats.