Keating Capital, Inc. (KIPO) announced that LifeLock, Inc., a Keating Capital portfolio company, has filed a registration statement with the U.S. Securities and Exchange Commission or SEC to raise up to $175 million in a proposed initial public offering of its common stock.
The company stated that the number of shares to be offered and the price range for the offering have not been determined.
Keating Capital said that it has completed a $5 million investment in the Series E convertible preferred stock and warrants of LifeLock on March 14, 2012. The per share price of the Series E preferred stock was $7.8776.
According to the filing, Series E investors are entitled to receive additional common shares upon conversion if the anticipated IPO price as determined by LifeLock's board of directors is less than $13.3919.
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