Dell unit SecureWorks prices smaller IPO at $14, below range

|About: SecureWorks Corp. (SCWX)|By:, SA News Editor

Bellwether tech IPO SecureWorks (Pending:SCWX) has priced its offering at $14/share.

That's below the expected $15.50-$17.50 range for the Dell unit. It's also selling 8M shares, fewer shares than an expected 9M.

That comes to raising $112M, vs. previous expectations of raising up to $181M.

The offering may be limping, but it is ending the longest drought in tech IPOs  in seven years (none since the end of 2015).

Now read SecureWorks Goes Big As First Major Tech IPO Of 2016 »

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