- 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