At the mid-point of the range, the IPO will raise $164.9 million. LifeLock expects to receive $147.7 million, after deducting the estimated underwriting discounts and commissions and offering expenses.
The company is selling 15.5 million shares in the offering, while selling stockholders are selling the rest.
The Tempe, Arizona-based company, offers protection services to individuals and enterprises on an annual and monthly basis.
The number of cases of identity theft has increased by 13 percent in 2011 and more than 11.6 million adults became victims of identity fraud in the United States, according to a report by Javelin Strategy & Research that is cited in the IPO prospectus.
LikeLock, backed by private equity firms Bessemer Venture Partners and Kleiner Perkins Caufield & Byers, plans to use about $62.6 million of the proceeds to repay debt related to its acquisition of ID Analytics.
Goldman Sachs, Bank of America Merrill Lynch and Deutsche Bank Securities are lead underwriters to the offering.
LifeLock intends to list its common stock on the New York Stock Exchange under the symbol “LOCK”.
(Reporting By Neha Dimri in Bangalore; Editing by Saumyadeb Chakrabarty)
Image Credit: Lifelock