Opening Day: McAfee returns to public market with $740M IPO

McAfee raised $740M in its initial public offering as the cybersecurity software provider returns to the stock market. McAfee was a public company before Intel (INTC) bought it for $7.7B back in 2011. The name was dropped a few years later but then reinstated after Intel sold a majority stake to TPG, which now owns about 66% of McAfee.

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McAfee (MFE) opened on October 22 at $18.60. The company had priced 37M shares at $20.00. The deal priced inside the $19.00-$22.00 target range. Morgan Stanley, Goldman Sachs, TPG Capital, BofA and Citi acted as joint book running managers for the offering. McAfee is a cybersecurity software provider.

Foghorn Therapeutics (FHTX) opened on October 23 at $19.00 after its 7.5M share offering priced at $16.00. The deal priced at midpoint of $15.00-$17.00 target range. Goldman Sachs, Morgan Stanley, Cowen and Wedbush are acting as joint book running managers for the offering. Foghorn Therapeutics is developing treatments for ocular cancer and other cancers.

Abcam (ABCM) opened on October 22 at $18. The company had priced 8.945M shares at $17.50. Morgan Stanley, SVB Leerink and BofA acted as joint book running managers for the offering. Abcam identifies, develops, and distributes reagents and tools for life science research.

Gild Mortgage (GHLD) opened on October 22 at $15. The company had priced 6.5M shares at $15.00. The deal size was reduced to 6.5M shares from 8.5M and priced below the target range of $17.00-$19.00. Wells Fargo, BofA, JPMorgan and JMP Securities are acted as joint book running managers for the offering. Gild Mortgage is a mortgage servicer and lender.

Datto (MSP) opened on October 21 at $32. The company had priced 22M shares at $27.00. The deal priced at the high-end of the $24.00-$27.00 range. Morgan Stanley, BofA, Barclays and Credit Suisse acted as joint book running managers for the offering. Datto is a provider of cloud-based software and technology solutions purpose-built for delivery by managed service providers.

MingZhu Logistics (YGMZ) opened on October 21 at $4.40. The company had priced its initial public offering of 3M ordinary shares at a $4.00 per shares. ViewTrade Securities acted as sole book-running manager for the offering. MingZhu Logistics is a China-based trucking services provider.

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