Dell's SecureWorks Files For $100 Mln IPO

(RTTNews) - Dell Inc.'s cybersecurity unit SecureWorks Corp., has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering of common shares. The company did not specify the number of shares to be sold and the pricing.

SecureWorks plans to sell its Class A common stock to the public, while Dell's holding company, Denali Holding Inc. will indirectly own its Class B stock, according to filing.

The Atlanta, Georgia-based company said it has planned to list Class A common stock on the NASDAQ Global Select Market under the trading symbol "SCWX."

SecureWorks said in the filing that it posted a wider loss of $18.5 million for the third quarter ended October 30, versus loss of $8.8 million a year earlier. Revenue rose to $88.2 million from $66.8 million.

Merrill Lynch, Morgan Stanley, Goldman Sachs and J.P. Morgan are lead joint-bookrunning managers.

SecureWorks plans to use IPO proceeds for working capital and other general corporate purposes.