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Cybersecurity software firm Rapid7 prices IPO above range

Jul. 17, 2015 9:17 AM ETRapid7, Inc. (RPD) StockBy: Eric Jhonsa, SA News Editor1 Comment
  • Rapid7 (NASDAQ:RPD) has priced its IPO at $16, above a $13-$15 range. Shares begin trading today. All signs point to a strong debut, particularly given a backdrop of strong investor interest in cybersecurity plays and growing M&A activity in the space.
  • The Incident-detection and threat-response software/services provider is selling 6.45M shares through the IPO, and another 357K through a concurrent private placement with Technology Crossover Ventures (gross proceeds of $109M). Underwriters have a 967.5K-share overallotment option.
  • Rapid7 has an IPO valuation of $610M, or 7.9x 2014 revenue of $76.9M. Q1 revenue was $23.6M (+41% Y/Y), and net loss $7.7M.
  • Prospectus, IPO analysis
  • Previously: Rapid7's IPO filing/details

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