Rapid7, which provides enterprise network security software, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $90 million by offering 6.45 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Rapid7 would command a fully diluted market value of $569 million.
Last year's standout cyber security IPO was CyberArk Software (CYBR), which went public in September 2014 and trades over 270% above its offer price.
Rapid7, which was founded in 2000 and booked $84 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol RPD. Morgan Stanley and Barclays are the joint bookrunners on the deal. It is expected to price during the week of July 13, 2015.
