Xactly (XTLY) IPO Prices at $8, Well Below Expected Range

June 26, 2015 8:37 AM EDT

Xactly Corporation (NYSE: XTLY) announced today the pricing of its initial public offering of 7,037,500 shares of its common stock at a price to the public of $8.00 per share, below the expected $10-$12 range. The shares are expected to begin trading on the New York Stock Exchange on today, under the symbol “XTLY.

In addition, Xactly has granted the underwriters a 30-day option to purchase up to an additional 1,055,625 shares of common stock to cover over-allotments, if any.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are acting as joint lead book-running managers for the offering with UBS Securities LLC also acting as a book-running manager. Needham & Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers for the offering.

Xactly is a leading provider of enterprise-class, cloud-based, incentive compensation solutions for employee and sales performance management.

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