SecureWorks raises $120 million in year's first technology IPO | Reuters

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.

Reuters April 22, 2016 04:30:13 IST
SecureWorks raises $120 million in year's first technology IPO
| Reuters

SecureWorks raises 120 million in years first technology IPO
 Reuters

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)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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