FireEye Now Sees IPO of $225.4M

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Published September 09, 2013

| FOXBusiness

FireEye said Monday it plans to raise the cap on its initial public offering, with the cyber security company now looking at an IPO of up to $225.4 million in stock.

The firm is offering 14 million shares priced between $12 and $14 a share.

In early August, FireEye filed plans for an IPO of up to $175 million. It indicated that proceeds from the offering would be used for general corporate purposes, such as expanding its workforce and marketing activities.

The company will list its shares on Nasdaq under the symbol FEYE.

FireEye is run by former McAfee president David DeWalt, who helped orchestrate the antivirus giant’s $7.7 billion sale to Intel (INTC).

FireEye’s technology helps businesses guard against malicious software, and its technology helps stop malware that gets past antivirus programs from companies like McAfee and Symantec (SYMC).

For the six months ended June 30, FireEye logged a wider loss of $67.2 million compared to the year-ago period amid higher operating expenses, while revenue more than doubled to $61.6 million.

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