* To list on NASDAQ under symbol "PFPT"
* Names Credit Suisse and Deutsche Bank Securities as lead
Dec 14 Cloud-based data security provider
Proofpoint Inc filed with U.S. regulators to raise up to $50
million in an initial public offering of its common stock.
In a filing with the U.S. Securities and Exchange
Commission, the Sunnyvale, California-based company said Credit
Suisse and Deutsche Bank Securities would be the lead
underwriters to the offering.
The company, which was founded in 2002, supplies data
security solutions to around 2,400 customers, including 24
Fortune 100 companies, according to the filing.
There has been a spurt in demand for data protection
services given the constantly evolving cyber threat landscape
and the sensitive nature of the data.
Proofpoint, backed by MDV VII L.P. and Benchmark Capital
Partners IV L.P., said it intends to list its common stock on
Nasdaq under the symbol "PFPT".
The company has incurred net losses every year since
inception, and recorded a net loss of $13.7 million, on revenue
of $59 million for the nine months ended Sept. 30, the filing
The company did not disclose how many shares it 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.