MILPITAS, Calif., 10th December 2020–FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company raises $400 million in funding led by Blackstone. Blackstone was joined by ClearSky, a cybersecurity-focused investment firm, as a co-investor in the transaction.
FireEye also announced that Viral Patel, a Senior Managing Director of Blackstone, and Art Coviello, former chief executive officer of RSA Security, have been appointed to the FireEye Board of Directors, effective immediately.
Viral Patel, a Senior Managing Director of Blackstone said, “We have confidence in FireEye’s long-term strategic vision and its world-class set of cyber security products and services. As a member of the Board of Directors, I look forward to partnering with management and my fellow board members to help drive the company’s future growth and build shareholder value.”
“I am excited to welcome Viral and Art to FireEye as members of our Board of Directors,” said Kevin Mandia, FireEye chief executive officer. “Each brings a unique perspective on the dynamics of successful strategy and execution, and we look forward to their contributions as we pursue our transformation strategy and growth opportunities.”
Under the revised terms of their investment, Blackstone and ClearSky purchased 400,000 shares of FireEye’s newly designated 4.5% Series A Convertible Preferred Stock (the “Series A Preferred”), with a purchase price of $1,000 per share, for $400 million in the aggregate.
The Series A Preferred will be convertible into shares of FireEye’s common stock at a conversion price of $17.25 per share, subject to certain customary adjustments.