Cybersecurity firm McAfee Corp recently disclosed it will be raising about $814 million through a U.S. initial public offering.
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McAfee Corp which spanned out of America’s leading chip producer Intel Corp will sell about 31 million shares. Shareholders are offering about 6 million shares in the IPO, according to its recent regulatory filing.
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What you should know
John McAfee started the firm in his name in the 80s. A decade later, the McAfee software was the leading player in helping protect businesses and individuals from adversarial threats like computer hackers.
Highlights of McAfee’s most recent financials include;
- Net revenue was $2,635 million in fiscal 2019 and $1,401 million in the 26 weeks ended June 27, 2020.
- Net loss was $236 million in fiscal 2019 and net income was $31 million in the 26 weeks ended June 27, 2020.
- Net loss margin was 9.0% in fiscal 2019 and net income margin was 2.2% in the 26 weeks ended June 27, 2020.
- Adjusted EBITDA was $799 million in fiscal 2019 and $507 million in the 26 weeks ended June 27, 2020.
- The adjusted EBITDA margin was 30.3% in fiscal 2019 and 36.2% in the 26 weeks ended June 27, 2020.
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Morgan Stanley, Goldman Sachs, TPG Capital BD, BofA Securities, and Citigroup are the lead underwriters for the offering.
