LifeLock files for IPO of up to $175 million
LifeLock Inc, which provides theft and fraud protection services, filed with U.S. regulators on Tuesday to raise up to $175 million in an initial public offering of common stock.
The company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Goldman Sachs, Bank of America Merrill Lynch and Deutsche Bank Securities are lead undewriters to the offering.
The company, backed by private equity firms Bessemer Venture Partners and Kleiner Perkins Caufield & Byers, plans to use the proceeds to pay down debt and for acquisition. The Tempe, Arizona-based company, which offers protection services to individuals and enterprises on an annual and monthly basis, posted net income of $11.6 million on revenue of $125.5 million for the half year ended June 30.
