Security company LifeLock files for IPO of up to $175 million

Wed Aug 29, 2012 3:48am IST

Stocks

   

(Reuters) - 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.

LifeLock intends to list its common stock on the New York Stock Exchange under the symbol "LOCK".

The filing did not reveal how many shares the company planned to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting By Neha Dimri in Bangalore; Editing by Maju Samuel)