SecureWorks, a managed security services provider being spun out of Dell, announced terms for its IPO on Monday.
The Atlanta, GA-based company plans to raise $149 million by offering 9 million shares at a price range of $15.50 to $17.50. At the midpoint of the proposed range, SecureWorks would command a fully diluted market value of $1.4 billion.
SecureWorks was founded in 1999 and booked $340 million in sales for the 12 months ended January 31, 2016. It plans to list on the Nasdaq under the symbol SCWX. BofA Merrill Lynch, Morgan Stanley, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of April 18, 2016.
