Cybersecurity Company McAfee Files IPO, Plans to List Under Ticker 'MCFE'

September 28, 2020 5:47 PM

McAfee Corp. filed an IPO on form S-1 with the SEC. The company plans to list on The Nasdaq Global Select Market under the symbol “MCFE."

In 2011, McAfee was acquired by Intel and operated as a part of a business unit of Intel. Since then, McAfee has grown from $1.9 billion in net revenue in 2011 to $2.6 billion in 2019. In 2017, TPG and Thoma Bravo acquired a controlling interest in McAfee.

Morgan Stanley and Goldman Sachs & Co. LLC are acting as lead book-running managers and representatives of the underwriters for the offering. TPG Capital BD, LLC, BofA Securities, Citigroup, RBC Capital Markets, Deutsche Bank Securities, UBS Investment Bank, HSBC and Mizuho Securities will also serve as joint-bookrunning managers for the proposed offering. Evercore ISI, Piper Sandler and Stifel are acting as co-managers for the offering.

McAfee has been a pioneer and leader in protecting consumers, enterprises, and governments from cyberattacks for more than 30 years with integrated security, privacy, and trust solutions.

Net revenue was $2,635 million in fiscal 2019 and $1,401 million in the 26 weeks ended June 27, 2020. Net loss was $236 million in fiscal 2019 and net income was $31 million in the 26 weeks ended June 27, 2020. Adjusted EBITDA was $799 million in fiscal 2019 and $507 million in the 26 weeks ended June 27, 2020.

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IPOs Private Equity