LifeLock Inc. raised $141.3 million in its upsized initial public offering at $9.00 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares will be used by LifeLock Inc. for the repayment of the outstanding balance under a term loan, working capital and other general corporate purposes.
LifeLock Inc. (NYSE:LOCK) is an American identity theft protection company based in Tempe, Arizona. The company offers LifeLock identity theft protection system - intended to detect fraudulent applications for various credit and non-credit related services. Lifelock provides a $1 million guarantee in the event of identity theft.