Dell Inc's cyber security unit SecureWorks Corp (SCWX.O) raised $120 million in the first U.S. initial public offering of a technology company in 2016, less than it had hoped for, amid investor skepticism over its profit margins and prospects.
SecureWorks priced 8 million shares on Thursday at $14, missing its previously indicated $15.50-$17.50 range, according to a person familiar with the matter. The company was originally aiming to price 9 million shares.
The source asked not to be identified ahead of an official announcement. SecureWorks did not immediately respond to a request for comment.
(Reporting by Lauren Hirsch in New York; Editing by Bernard Orr)
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Published Date: Apr 22, 2016 04:30 AM | Updated Date: Apr 22, 2016 04:30 AM