Technology Other News 19 Nov 2016 Cybersecurity compan ...

Cybersecurity company Optiv files for IPO

REUTERS
Published Nov 19, 2016, 3:43 pm IST
Updated Nov 19, 2016, 3:43 pm IST
The company set a nominal fundraising target of $100 million in its filing with the US Securities and Exchange Commission.
On a pro forma basis, the company posted a loss of $5.7 million on revenue of $643.8 million in the nine months ended Sept. 30, according to the filing.
 On a pro forma basis, the company posted a loss of $5.7 million on revenue of $643.8 million in the nine months ended Sept. 30, according to the filing.

Cybersecurity company Optiv Security Inc, majority owned by Blackstone Group LP, filed with US regulators for an initial public offering of its common stock on Friday. The company set a nominal fundraising target of $100 million in its filing with the US Securities and Exchange Commission.

The filing showed that both Optiv and its shareholders were offering shares in the IPO, but did not disclose the number of shares being sold or their expected price. Optiv was created when cyber security companies Accuvant and FishNet Security merged in 2015. Blackstone made a majority investment in Accuvant in 2014.

 

On a pro forma basis, the company posted a loss of $5.7 million on revenue of $643.8 million in the nine months ended Sept. 30, according to the filing. Denver, Colorado-based Optiv intends to list its common stock on the New York Stock Exchange under the symbol "OPTV".

Morgan Stanley, Goldman Sachs & Co, Barclays Capital Inc, Citigroup Global Markets Inc are among the underwriters of the offering. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

 

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