Cybersecurity software provider McAfee returned to the public market when it began trading on the Nasdaq Thursday morning as ‘MCFE’. It priced its initial public offering at $20, raising $740 million. The stock opened 7% lower at $18.60, giving it a market cap of $8 billion. The firm intends to use the bulk of its IPO proceeds to help pay down a $525 million term loan. McAfee generated $2.6...
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SoftBank’s Onetime Pizza-Robot Darling Shuts Down
Zume, which raised $375 million from SoftBank to automate pizza-making with robots before switching to developing sustainable packaging, has shut down. The company is insolvent and has retained restructuring firm Sherwood Partners to liquidate the assets for the benefit of the creditors, an alternative to bankruptcy, according to Martin Pichinson, Sherwood Partners’ cofounder. It ceased...
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