McAfee and its shareholders raised $740 million in an initial public offering priced within a targeted range as the cybersecurity software provider returns to the stock market.
The company and some of its investors sold 37 million shares for $20 apiece Wednesday, according to a statement. McAfee had marketed 31 million shares for $19 to $22, while its shareholders offered 6 million shares.
McAfee is valued in the IPO at about $8.6 billion based on the outstanding shares listed in its prospectus.
The company, based in San Jose, California, was acquired by Intel in a 2010 deal. In 2016, Intel announced that it had signed an agreement to transfer a 51 per cent stake in McAfee to the investment firm TPG for $1.1bn. The transaction valued the spun-off company at $4.2bn, including debt.
Current backers listed in McAfee’s prospectus include TPG, Intel, Singapore’s sovereign wealth fund GIC Pte and the private equity firm Thoma Bravo.
For the 26 weeks ended June 27, McAfee had net income of $31m on revenue of $1.4bn, according to its filings. That compared with a loss of $146m on revenue of $1.3bn for the comparable period last year.
The offering is being led by Morgan Stanley, Goldman Sachs, TPG Capital BD, Bank of America and Citigroup McAfee’s shares are expected to begin trading Thursday on the Nasdaq Global Select market under the symbol MCFE.
The company was founded in 1987 by John McAfee. Since selling to Intel, Mr McAfee has gone through a series of personal legal challenges.
He was a person of interest in a 2012 murder in Belize, though not charged with a crime. Last year, he was detained in the Dominican Republic for entering the country with a cache of firearms and ammunition.
The firearms charges were announced just hours after the U.S. Securities and Exchange Commission sued Mr McAfee for promoting the sale of cryptocurrencies without disclosing that he was being paid to do so. This month, he was arrested on tax-evasion charges for allegedly failing to report that income.
Top 10 most polluted cities
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BOSH!'s pantry essentials
Nutritional yeast
This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.
Seeds
"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."
Umami flavours
"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".
Onions and garlic
"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."
Your grain of choice
Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."
India team for Sri Lanka series
Test squad: Rohit Sharma (captain), Priyank Panchal, Mayank Agarwal, Virat Kohli, Shreyas Iyer, Hanuma Vihari, Shubhman Gill, Rishabh Pant (wk), KS Bharath (wk), Ravindra Jadeja, Jayant Yadav, Ravichandran Ashwin, Kuldeep Yadav, Sourabh Kumar, Mohammed Siraj, Umesh Yadav, Mohammed Shami, Jasprit Bumrah.
T20 squad: Rohit Sharma (captain), Ruturaj Gaikwad, Shreyas Iyer, Surya Kumar Yadav, Sanju Samson, Ishan Kishan (wk), Venkatesh Iyer, Deepak Chahar, Deepak Hooda, Ravindra Jadeja, Yuzvendra Chahal, Ravi Bishnoi, Kuldeep Yadav, Mohammed Siraj, Bhuvneshwar Kumar, Harshal Patel, Jasprit Bumrah, Avesh Khan
