ExactTarget (ET) Announces 6.5M Common Offering; Book-Runners Release Lock-Up Restrictions
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ExactTarget (NYSE: ET), a global provider of cross-channel interactive marketing solutions, announced today a public offering of 6,500,000 shares of its common stock.
Certain existing stockholders of ExactTarget propose to sell an aggregate of 6.5 million shares of common stock. The underwriters for the offering will have a 30-day option to purchase from the selling stockholders up to an additional 975,000 shares of common stock, on the same terms and conditions. ExactTarget will not receive any proceeds from the sale of the shares in the offering.
J.P. Morgan Securities LLC, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as joint book-runners for the offering, with RBC Capital Markets, Pacific Crest Securities, Canaccord Genuity and Raymond James acting as co-managers.
In connection with the proposed offering, J.P. Morgan Securities LLC, Deutsche Bank Securities and Stifel Nicolaus Weisel, the lead book-running managers of ExactTarget’s initial public offering in March 2012, are releasing lock-up restrictions with respect to certain shares of ExactTarget common stock held by the selling stockholders that are participating in the offering announced today. The release will take effect concurrently with the offering.
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Certain existing stockholders of ExactTarget propose to sell an aggregate of 6.5 million shares of common stock. The underwriters for the offering will have a 30-day option to purchase from the selling stockholders up to an additional 975,000 shares of common stock, on the same terms and conditions. ExactTarget will not receive any proceeds from the sale of the shares in the offering.
J.P. Morgan Securities LLC, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as joint book-runners for the offering, with RBC Capital Markets, Pacific Crest Securities, Canaccord Genuity and Raymond James acting as co-managers.
In connection with the proposed offering, J.P. Morgan Securities LLC, Deutsche Bank Securities and Stifel Nicolaus Weisel, the lead book-running managers of ExactTarget’s initial public offering in March 2012, are releasing lock-up restrictions with respect to certain shares of ExactTarget common stock held by the selling stockholders that are participating in the offering announced today. The release will take effect concurrently with the offering.
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