Ellie Mae (ELLU) Prices 3.1M Folow-On at $17/Share
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Ellie Mae (NYSE: ELLI) announced the pricing of its follow-on public offering of 3,101,638 shares of its common stock at a public offering price of $17.00 per share.
Ellie Mae is offering 3,000,000 shares of common stock and certain of its directors and executive officers are offering 101,638 shares of common stock. In addition, Ellie Mae has granted the underwriters a 30-day option to purchase up to an additional 465,245 shares of its common stock on the same terms and conditions, solely to cover over-allotments, if any. Ellie Mae intends to use the net proceeds from this offering for working capital and general corporate purposes, which may include the acquisition of, or investment in, technologies, solutions or businesses that complement the company’s business. Ellie Mae will not receive any proceeds from the sale of common stock by the selling stockholders. The offering is expected to close on or about July 3, 2012, subject to customary closing conditions. William Blair & Company, L.L.C. and JMP Securities LLC are acting as joint book-running managers of the offering. Needham & Company, LLC, Oppenheimer & Co. Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc. are acting as co-managers of the offering.
Ellie Mae is offering 3,000,000 shares of common stock and certain of its directors and executive officers are offering 101,638 shares of common stock. In addition, Ellie Mae has granted the underwriters a 30-day option to purchase up to an additional 465,245 shares of its common stock on the same terms and conditions, solely to cover over-allotments, if any. Ellie Mae intends to use the net proceeds from this offering for working capital and general corporate purposes, which may include the acquisition of, or investment in, technologies, solutions or businesses that complement the company’s business. Ellie Mae will not receive any proceeds from the sale of common stock by the selling stockholders. The offering is expected to close on or about July 3, 2012, subject to customary closing conditions. William Blair & Company, L.L.C. and JMP Securities LLC are acting as joint book-running managers of the offering. Needham & Company, LLC, Oppenheimer & Co. Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc. are acting as co-managers of the offering.
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