Fireeye Soars After Deal With Blackstone

November 20, 2020 12:20 PM AEDT
Team Kalkine

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The Cybersecurity giant FireEye shares surged up significantly after-hours trade when investment company Blackstone and another cybersecurity focused firm ClearSky together took a US$400 million stake.

FireEye plans to use the hefty amount to support strategic growth initiatives. A significant part of this amount is being used to fund the acquisition of Respond Software.

The declaration was made during the later hours on 19 November.

As per the terms of investment, both Backstone and ClearSky will be buying US$400 million in shares of a recently developed 4.5% Series A Convertible Preferred Stock of FireEye, with a purchase price of US$1000 per share. This Series A Preferred shall be convertible into shares of FireEye’s common stock at a conversion price of US$18 per share.

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