SecureWorks starts trading below issue price in year's first tech IPO
SecureWorks Inc. , the year's first U.S. tech initial public offering, was trading at $13.69 Friday, below its issue price of $14. SecureWorks, a cybersecurity company, is a spinoff of Dell Inc. and had already priced below the initial range of $15.50 to $17.50. The company sold 8 million shares to raise $112 million. Bank of America Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan were the lead underwriters.
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