Proofpoint, which provides on-demand data protection solutions to large and mid-sized organizations, announced terms for its IPO on Monday. The Sunnyvale, CA-based company plans to raise $68 million by offering 6.2 million shares (19% insider) at a price range of $10 to $12. At the midpoint of the proposed range, Proofpoint would command a market value of $404 million. Proofpoint, which was founded in 2002 and booked $82 million in sales in 2011, plans to list on the NASDAQ under the symbol PFPT. Credit Suisse and Deutsche Bank Securities are the joint bookrunners on the deal.
