UPDATE 1-LifeLock IPO prices below range at $9
(Adds company background) By Olivia Oran
Oct 2 (Reuters) - Theft and fraud protection services provider LifeLock priced its initial public offering at $9 a share on Tuesday, below the expected range, an underwriter said.
The Tempe, Arizona-based firm raised $141.3 million by pricing 15.7 million shares as planned. It had estimated a price range of $9.50 to $11.50.
LifeLock, founded in 2005, charges customers $10 to $25 a month for fraud protection services.
In fiscal 2011, LifeLock's revenue grew 20 percent to $193.9 million. The company's net loss narrowed to $4.3 million from $15.4 million in the prior year.
In March the company acquired fraud protection services firm ID Analytics and raised $100 million in additional capital.
In a busy week for IPOs, LifeLock is one of seven companies expected to raise a total of nearly $1 billion. Berry Plastics Group Inc , backed by Apollo Global Management LLC , is the week's biggest deal, at an estimated $500 million.
In the LifeLock IPO, the company itself is selling 15.5 million shares, while executives including CEO Todd Davis are offering the remaining 200,000 shares.
The company's venture backers, which include Bessemer Venture Partners and Kleiner Perkins, are not selling shares in the offering.
The IPO is being led by Goldman Sachs Group, Bank of America Merrill Lynch and Deutsche Bank.
LifeLock will use the proceeds to repay debt, for working capital and for general corporate purposes.
The company intends to list on the New York Stock Exchange under the ticker "LOCK".
(Reporting by Olivia Oran; Editing by Gary Hill and Richard Chang)
((Olivia.Oran@thomsonreuters.com)(646 223 6335))
Keywords: LIFELOCK/IPO