SciQuest, Inc. (NASDAQ: SQI) said it has priced its underwritten public common stock offering of 3,000,000 shares at a price to the public of USD26.75 per share.
In addition, SciQuest has granted to the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock.
The company expects to use the net proceeds from the offering for working capital and other general corporate purposes. J.P. Morgan Securities LLC and Stifel acted as joint book-running managers for the offering. Canaccord Genuity Inc., JMP Securities LLC, Pacific Crest Securities LLC, Raymond James & Associates, Inc., William Blair & company, L.L.C., Barrington Research Associates, Inc. and Sidoti & company, LLC acted as co-managers.
SciQuest is the largest publicly held pure-play provider of cloud-based, business automation solutions for spend management, offering deep domain knowledge and a leading, customer-driven portfolio.