SecureWorks Reportedly Sells Fewer Shares In IPO, Below Price Range

(RTTNews) - Dell Inc.'s cyber-security arm Secureworks Corp. sold fewer shares than originally marketed in its initial public offering, pricing the stock below the deal's planned range, according to reports citing people familiar with the matter.

The company sold 8 million Class A shares for $14 per share. SecureWorks had initially planned to sell 9 million shares between $15.50 and $17.50 per share. The shares will start trading Friday, listed on the Nasdaq Stock Market under the symbol SCWX.

SecureWorks raised a total of $112 million for working capital and other uses, including developing new products and possible acquisitions of businesses or technology.