FireEye announces $700M stock offering, shares fall

|By:, SA News Editor

FireEye (FEYE -5.1%) plans to sell up to $700M worth of shares, both to raise fresh capital and to "facilitate an orderly distribution of shares" ahead of the company's March 19 lockup expiration.

No details have been given regarding how many shares will be sold, or how many will be issued by FireEye itself. VC firms Sequoia Capital and Norwest Venture Partners respectively own 15.7% and 15.1% stakes, and founder/CTO Ashar Aziz a 7.9% stake.

FireEye's giant post-IPO gains could motivate some major shareholders to take profits.

Prospectus