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

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

Stock News for Symantec (SYMC)
DateTimeHeadline
04/28/201616:57:00Symantec Slashes Quarterly Guidance; CEO to Step Down -- Update
04/28/201611:25:00Symantec Slashes Quarterly Guidance; CEO to Step Down
04/28/201611:23:00Correction to Symantec Guidance Story
04/28/201609:00:00Symantec Slashes Quarterly Guidance; CEO to Step Down
04/28/201608:52:00Symantec Slashes Quarterly Guidance; CEO to Step Down
04/28/201607:17:19Current Report Filing (8-k)
04/28/201607:01:00Symantec Updates Fiscal Fourth Quarter 2016 Guidance
04/28/201607:00:00Symantec Announces CEO Transition Plan Following Company’s S...
04/27/201605:41:00DarkMatter and Symantec to Provide Next-generation Cyber Security...
04/27/201605:41:00DarkMatter and Symantec to Provide Next-generation Cyber Security...
04/20/201609:00:00Symantec Partners with Rockwell Automation to Maximize Security...
04/15/201616:05:00Symantec to Webcast Quarterly Earnings Call
04/12/201600:01:00One New Zero-Day Discovered on Average Every Week in 2015, Twice...
03/30/201617:43:08Statement of Changes in Beneficial Ownership (4)
03/22/201608:02:53Current Report Filing (8-k)
03/22/201608:00:00Symantec Announces Next Phase of $5.5 Billion Capital Return...
03/15/201600:00:00Symantec Announces Encryption Everywhere
03/14/201615:59:20Initial Statement of Beneficial Ownership (3)
03/07/201616:32:59Current Report Filing (8-k)
03/04/201616:05:00Symantec Announces Closing of $500 Million Silver Lake Strategic...

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