: McAfee prices IPO at $20 a share

: McAfee prices IPO at $20 a share

22 Oct    Finance News

McAfee is set to go public Thursday.

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McAfee Corp. announced Wednesday night its initial public offering will be priced at $20 a share, to raise around $740 million.

That’s on the lower end of its projected price range of $19 to $22 a share.

The security software company will offer 37 million shares of common stock, with about 31 million offered by McAfee and 6 million offered by existing stockholders.

McAfee is scheduled to begin trading Thursday on the Nasdaq under the ticker symbol “MCFE.”

Read: McAfee IPO: 5 things to know about the security-software company

Underwriters include Morgan Stanley, Goldman Sachs, TPG Capital, BofA Securities and Citigroup. 

The company was bought more than a decade ago by Intel Corp. INTC, +0.13%, but a majority stake was sold in 2016 to private equity firm TPG. Thoma Bravo took a minority stake in 2017. After the IPO, TPG, Thoma Bravo and Intel will control about 82.2% of the voting power.

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