Hackers beware: Mimecast sets terms for $85 million IPO

Mimecast, which provides cloud-based email archiving and security solutions, announced terms for its IPO on Friday.
The London, United Kingdom-based company plans to raise $85 million by offering 7.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Mimecast would command a fully diluted market value of $641 million.
Mimecast, which was founded in 2003 and booked $128 million in sales for the 12 months ended September 30, 2015, plans to list on the Nasdaq under the symbol MIME. Goldman Sachs, Barclays, Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of November 16, 2015.

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