Cvent, Inc. (NYSE: CVT) said it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed public offering of 4,800,000 shares of its common stock.
The offering is expected to consist of approximately 4,150,000 shares from certain existing stockholders and 650,000 shares from Cvent. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 720,000 shares from the selling shareholders and Cvent.
The primary purpose of the offering is to facilitate an orderly distribution of shares and to increase the company´s public float. The net proceeds of the Cvent portion of the offering will be used to pay for the expenses of this offering, and any remainder for working capital and general corporate purposes, including further expansion of our operations and product development.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. will act as joint book-running managers for the offering. Pacific Crest Securities LLC, Stifel, Nicolaus & company, Inc., and Needham & company, LLC will act as co-managers.
Cvent is a leading cloud-based enterprise event management platform. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys.