By Mike Murphy
McAfee Corp. announced Wednesday night its initial public offering will be priced at $20 a share, to raise around $740 million.
That’s on the lower end of its projected price range of $19 to $22 a share.
The security software company will offer 37 million shares of common stock, with about 31 million offered by McAfee and 6 million offered by existing stockholders.
McAfee is scheduled to begin trading Thursday on the Nasdaq under the ticker symbol “MCFE.”
Underwriters include Morgan Stanley, Goldman Sachs, TPG Capital, BofA Securities and Citigroup.
The company was bought more than a decade ago by Intel Corp. /zigman2/quotes/203649727/composite INTC +1.48% , but a majority stake was sold in 2016 to private equity firm TPG. Thoma Bravo took a minority stake in 2017. After the IPO, TPG, Thoma Bravo and Intel will control about 82.2% of the voting power.