Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Management & Strategy

Qualys Set for IPO on The NASDAQ Friday

In the first big security industry IPO since Palo Alto Networks made its debut as a public company back in July, Cloud-based security and compliance solutions provider Qualys, is set to go public and start trading on the NASDAQ exchange on Friday.

In the first big security industry IPO since Palo Alto Networks made its debut as a public company back in July, Cloud-based security and compliance solutions provider Qualys, is set to go public and start trading on the NASDAQ exchange on Friday.

The Redwood City, California-based company said late Thursday that it would offer 7,575,000 shares of its common stock at $12.00 per share, a price in the middle of the narrow $12-13 expected range.

Qualys IPOOf the total offering, Qualys is selling 6,700,000 shares, and stockholders are offering up 875,000 shares. The 6.7 million shares would net the company $71.8 million. However, the underwriters have a 30-day option to buy up to 1,136,250 additional shares of common stock at the time of the IPO to cover over-allotments. In the case of the full over-allotment, the company would net $84.5 million.

If all goes as planned, Qualys will commence trading on the NASDAQ Stock exchange on Friday (Sept 28) under the symbol “QLYS.”

According to the company’s S1 filing, Qualys had revenues of $57.4 million in 2009, $65.4 million in 2010, and $76.2 million in 2011.

The Company’s QualysGuard Cloud Platform is currently used by over 5,800 organizations in more than 100 countries.

According to the S-1 filing, Philippe Courtot, Chairman, President and Chief Executive Officer, who has injected $23.2 million of his own cash into the company, owns nearly 40 percent of company shares prior to the offering.

Former cybersecurity czar, Howard Schmidt, who joined Qualys’ Board of Directors in June 2012, owns 102,688 shares of the company.

Also, according to the S-1, Hewlett Packard, which competes with the company in a small capacity, owns 496,699 shares, all of which will be sold in the offering.

Advertisement. Scroll to continue reading.

Institutional investors in the company include Trident Capital and GRP Partners, neither of which is selling shares in tomorrow’s IPO.

Written By

For more than 15 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...

CISO Conversations

In this issue of CISO Conversations we talk to two CISOs about solving the CISO/CIO conflict by combining the roles under one person.

CISO Strategy

Security professionals understand the need for resilience in their company’s security posture, but often fail to build their own psychological resilience to stress.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem