McAfee, the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.
McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.
Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.
In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.
John McAfee founded McAfee Associates in 1987 and ran it until 1994, when he left the company.
McAfee’s anti-virus software was a market leader along with Norton in the 1990s and 2000s. It sold itself to Intel INTC for $7.7 billion in 2011.
In 2016, Intel sold a 51% stake to the San Francisco private-equity firm TPG for $1.1 billion. In its IPO prospectus, McAfee cites TPG and Chicago PE firm Thoma Bravo as investors.
After leaving McAfee Associates, John McAfee founded a raft of companies, including Tribal Voice, which offers the PowWow chat program; QuorumEx and Future Tense Central.
In 2016 he sought the Libertarian Party nomination for president, losing to former New Mexico Gov. Gary Johnson. He gave it another shot this year, to no avail.
McAfee was arrested last week in Spain and is facing extradition to the U.S. on tax evasion charges. In a statement announcing the charges, the Department of Justice noted “The indictment does not allege that
Visual China Group via Getty Images
Computer antivirus pioneer John McAfee tweeted last year that he hadn’t filed a tax return in eight years.
It was OK, he explained. He was “done making money.” His “net income is negative.”
“Taxation is illegal,” he said.
Now McAfee has been arrested in Spain on tax evasion charges. The U.S. Justice Department has accused him of failing to file tax returns from 2014 to 2018 despite making millions, according to an indictment unsealed on Monday.
He allegedly made money from “promoting crypto-currencies, consulting work, speaking engagements and selling the rights to his life story for a documentary.” His extradition to the U.S. is pending, according to the Justice Department.
Prosecutors said he evaded taxes by directing his income to be paid into bank accounts and cryptocurrency exchange accounts set up in others’ names, according to the indictment. He also allegedly concealed assets, including real property, a vehicle and a yacht, by putting them in other people’s names.
I have not filed a tax return for 8 years. Why? 1: taxation is illegal. 2: I paid tens of millions already and received Jack Shit in services. 3. I’m done making money. I live off of cash from McAfee Inc. My net income is negative. But i am a prime target for the IRS. Here I am.
— John McAfee (@officialmcafee) January 3, 2019
He could face up to 30 years in prison and $1.75
This isn’t quite pitch perfect!
Anna Kendrick has found herself topping a celebrity list that most people shouldn’t be on.
The “Pitch Perfect” actress ranks at the top of McAfee’s U.S. list of most dangerous celebrities to search for online.
For the 14th year, the computer virus fighters have researched which famous names generate the riskiest search results that could potentially trigger consumers to unknowingly install malware on their devices.
The Academy Award nominated actress, currently starring in the HBO Max series “Love Life,” beat out the likes of Diddy, Blake Lively, Mariah Carey and Jason Derulo as the most dangerous celebrity to search for.
“Cybercriminals use consumers’ fascination with celebrity culture to drive unsuspecting fans to malicious websites that install malware on their devices, potentially putting personal information and log-in details in the wrong hands,” McAfee’s VP Baker Nanduru said with Tuesday’s announcement of the list.
“Consumers are searching the web for free online entertainment now more than ever, and as cybercriminals continue to implement deceptive practices such as fake sites claiming to offer free content, it is crucial that fans stay vigilant about protecting their digital lives and think twice before clicking,” Nanduru added.
On last year’s list – where “Gilmore Girls” star Alexis Bledel took the top spot — Kendrick was No. 4.
Due to the the recent release of “Trolls World Tour,” in which she was the voice of Princess Poppy, she has become a hot commodity on the web.
Trailing her as the No. 2 most dangerous celebrity is hip hop mogul Sean Combs (also known as Diddy), and TV and film star Blake Lively at No. 3.
Best-selling music icon Mariah Carey is No. 4, followed by ex-NSync member Justin Timberlake (No. 5) and Taylor Swift (No. 6).
Rounding out the top 10 are
John McAfee, the cybersecurity pioneer who created the world’s first commercial anti-virus software, was arrested in Spain and charged with tax evasion, the Department of Justice announced Tuesday.
The British-born McAfee, 75, is facing extradition to the United States, where he is charged with tax evasion and willful failure to file tax returns
The entrepreneur’s arrest came after an indictment from June 15, 2020, was unsealed Tuesday.
According to the indictment, McAfee allegedly evaded taxes by directing his income to be paid into the bank accounts and cryptocurrency exchange accounts “in the names of nominees,” Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney D. Michael Dunavant for the Western District of Tennessee.
McAfee earned millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary, according to the indictment, the statement says.
From 2014 to 2018, McAfee “allegedly failed to file tax returns, despite receiving considerable income from these sources,” it says.
Want to keep up with the latest crime coverage? Sign up for PEOPLE’s free True Crime newsletter for breaking crime news, ongoing trial coverage and details of intriguing unsolved cases.
The indictment “does not allege that during these years McAfee received any income or had any or had any connection with the anti-virus company bearing his name,” the statement says.
McAfee attempted to evade the IRS by concealing assets, including real property, a vehicle, and a yacht, in the names of others, according to the indictment, the statement says.
If convicted, McAfee faces a maximum of five years in prison on each count of tax evasion and a maximum sentence of one year in prison on each count of willful failure to file a tax return,
Antivirus software pioneer John McAfee has been arrested in Spain and is expected to be extradited back to the U.S. on tax evasion charges, the Justice Department said Tuesday.
McAfee, 75, who founded the wildly successful computer anti-virus software company named after him, was arrested in Spain as he tried to board a flight to Istanbul.
A June indictment against McAfee in the U.S. court in Tennessee was unsealed by the Justice Department on Tuesday charging him with tax evasion and willful failure to file tax returns.
McAfee earned millions of dollars from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary, and from 2014 to 2018 allegedly failed to file tax returns, according to the indictment. None of the income in question is connected with the software company he founded, which McAfee resigned from in 1994.
The indictment also alleges that McAfee evaded his tax liability by routing his income into bank accounts and cryptocurrency exchange accounts that were set up by other people and attempted to skirt the IRS by placing his assets in other people’s names, including real estate, a vehicle, and a yacht.
He faces five tax evasion counts carrying a sentence of five years in prison or a $250,000 fine and five more counts of willful failure to file a tax return that could result in one year in prison or a $100,000 fine.
In 2012, McAfee went into hiding in Belize when police in the country sought him for questioning in the death of his neighbor. He reappeared in Guatemala City several weeks later.
The legendary Silicon Valley entrepreneur has twice attempted to run for president as a Libertarian Party candidate, first in 2016 and a second time this year.
More from National Review