Proofpoint Sees IPO of 6.2Mln Shares At $10-$12 Each

Date : 04/09/2012 @ 6:54AM
Source : Dow Jones News
Stock : Symantec Corp. (MM) (SYMC)
Quote : 31.63  0.15 (0.48%) @ 8:00PM

Proofpoint Sees IPO of 6.2Mln Shares At $10-$12 Each

Symantec Corp. (MM) (NASDAQ:SYMC)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Symantec Corp. (MM) Charts.
   DOW JONES NEWSWIRES 

Proofpoint Inc. unveiled estimated terms of its public offering at about 6.2 million shares at a price of $10 to $12 a share.

The company plans to offer five million shares of common stock while selling stockholders are selling about 1.2 million shares. Proofpoint will not receive any of the proceeds from the sale of shares offered by stockholders.

The maker of business security products initially filed plans for an IPO of up to $50 million worth of stock in December to raise funds for working capital and other corporate needs.

Proofpoint helps large and mid-size organizations manage threats to sensitive data and maintain regulatory compliance, among other offerings.

In a filing with the Securities and Exchange Commission, the company noted that traditional competitors include security-focused software vendors such as Symantec Corp. (SYMC), as well as large technology companies like Cisco Systems Inc. (CSCO) that are increasingly developing and incorporating into their products data-protection and storage software.

For the year ended Dec. 31, the company reported its loss slightly narrowed from a year earlier as total revenue jumped 26%. Subscription revenue, making up the bulk of the top line, rose 28%.

The company intends to list its shares on the Nasdaq Global Market under the symbol PFPT.

 
   -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; 
   nathalie.tadena@dowjones.com 



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.