FireEye, Inc. (NASDAQ: FEYE) announced the pricing of its initial public offering of 15,175,000 shares of its common stock at a price to the public of $20 per share. All of the shares are being offered by FireEye.
FireEye, an organisation that provides companies with technology and services to protect against malware and cyber attacks, has granted the underwriters a 30-day option to purchase up to an additional 2,275,000 shares of common stock to cover over-allotments, if any. The shares are expected to begin trading on The NASDAQ Global Select Market on September 20th under the symbol "FEYE".
Morgan Stanley & Co. LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Barclays Capital Inc. are acting as lead joint book-runners for the offering, and BofA Merrill Lynch and UBS Securities LLC are acting as other book-running managers for the offering. Nomura Securities International, Inc. is acting as a co-manager for the offering.
Since FireEye announced its public offering, it has seen an impressive 80% growth, starting at $20 and rising to $36 at the time of the market closing on September 20th. In total it raised nearly $304 million, giving it a market cap of $2.3 billion.
Although FireEye is new to market, this is still a good start and shows that investors have a lot of confidence in security companies.
The early success of FireEye mirrors other security companies’ progress, such as Illumio which this week raised $34 million and CipherCloud which raised $30 million.
