U.S. IPO Week Ahead: McAfee Returns To The Public Market In A 3-IPO Week

Three IPOs and one SPAC are expected to raise $1.6 billion in the week ahead, led by leading cybersecurity brand McAfee (MCFE).

Taken private by Intel (NASDAQ:INTC) in 2011, McAfee plans to raise $759 million at a $9.6 billion market cap in its return to the public market. McAfee provides integrated security solutions against cyberattacks to consumers, enterprises, and governments. Its consumer-focused products protected over 600 million devices and its enterprise customers included 86% of the Fortune 100. The company is profitable and plans to offer a 1.7% yield at the midpoint. Despite using the IPO proceeds to pay down debt, McAfee will be highly leveraged post-offering.

IT infrastructure platform Datto (MSP) plans to raise $561 million at a $4.2 billion market cap. The Vista-backed company provides a family of integrated tools that enable managed service providers (MSPs) to provide security and continuity services to their SMB customers. Although the company is profitable and generated positive free cash flow in the 1H20, revenue growth has been weighed down by declining device revenue.

Mortgage servicer and lender Guild Holdings (GHLD) plans to raise $153 million at a $1.1 billion market cap. The company provides loan sourcing and mortgage services, and it is among the longest operating seller-servicers in the US. The company is profitable, and revenue growth accelerated in the 1H20.

Cormorant Asset Management’s SPAC Helix Acquisition (HLXA) plans to raise $100 million to acquire business in the healthcare industry. The company is led by Cormorant founder Bihau Chen, who serves as CEO and Chairman.

U.S. IPO Calendar


Deal Size
Market Cap

Price Range
Shares Filed


Helix Acquisition
Boston, MA




Blank check company formed by Cormorant Asset Management targeting healthcare.

Norwalk, CT


$24 – $27

Morgan Stanley

Sells a hybrid IT infrastructure platform to managed service providers.

Guild Holdings
San Diego, CA


$17 – $19

Wells Fargo

Provides personalized mortgage services and loan origination.

San Jose, CA


$19 – $22

Morgan Stanley

Leading provider of antivirus and endpoint security software.

Street research is expected for 11 companies and lock-up periods will be expiring for two companies in the week ahead.

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/16/20, the Renaissance IPO Index was up 81.6% year-to-date, while the S&P 500 was up 7.8%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (NASDAQ:ZM) and Uber (NYSE:UBER). The Renaissance International IPO Index was up 37.8% year-to-date, while the ACWX was down 3.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianpin and SoftBank.

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Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.

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