US-based LifeLock, a provider of identity theft protection services, has raised $141.3m in its initial public offering [IPO], according to the company’s Securities and Exchange Commission filing.
The company priced 15.7m shares at $9 per share, which was below its $9.50 to $11.50 average range, for an initial market cap of around $777m. It will trade on the NYSE under ticker symbol LOCK. Goldman Sachs, Bank of America Merrill Lynch and Deutsche Bank served as co-lead underwriters.
Lifelock reported $11.6m in net income for the first six months of 2012 on $125.5m in revenue, this is compared to the $1.7m loss on $91m in revenue for the same period last year.
Earlier this year Lifelock acquired ID Analytics, a provider of enterprise risk assessment and fraud protection services, a partner of Lifelock since 2009. The Lifelock acquisition included a $14.3m income tax benefit resulting from the acquisition of ID, which took Lifelock to the net profit in the first six months of 2012.
Shareholders in Lifelock include private venture firms Bessemer Venture Partners (24.4% pre-IPO stake) Kleiner Perkins Caufield & Byers (12.2%), US-based investment banking firm Goldman Sachs (10.9%), technology growth equity-focused Industry Ventures (9.7%) and American global computer security software corporation Symantec Corp (8.2%).
Lifelock had revenue of $193.9m during 2011. Lifelock recorded a net loss of $4.3m at the end of 2011.