SciQuest prices shares for stock offering
03/27/2014 12:23 PM
02/15/2015 10:45 AM
SciQuest on Thursday announced that it plans to sell 3 million shares to the public at a price of $26.75 per share.
At that price, SciQuest would raise about $80 million from the offering. The Cary company plans to use the proceeds for working capital and general corporate purposes. The underwriters also have the option to purchase up to 450,000 additional shares.
The $26.75 price is 14 percent below where SciQuest’s shares began trading Monday morning, when the Cary company announced the stock sale.
SciQuest's procurement technology allows customers to more efficiently buy goods and services online. The company ended 2013 with $19.1 million in cash.
Join the Discussion
News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.