Proceeds to be used for working capital and general corporate purposes
By Angela McDaniels
Tacoma, Wash., June 27 - Ellie Mae, Inc. priced a $52.73 million follow-on public sale of common stock. The 3,101,638 shares sold for $17.00 each.
The price is a 3.9% premium over the company's closing share price on Tuesday.
Of the shares, 3 million are being offered by Ellie Mae and the remainder are being offered by some of its directors and executive officers, according to a company news release.
The offering has a $7.91 million over-allotment option.
William Blair & Co., LLC and JMP Securities LLC are the joint bookrunning managers. Needham & Co., LLC, Oppenheimer & Co. Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc. are the co-managers.
Proceeds will be used for working capital and general corporate purposes.
The Pleasanton, Calif., company hosts an electronic mortgage origination network.
| Issuer: | Ellie Mae, Inc.
|
| Issue: | Common stock
|
| Amount: | $52,727,846
|
| Greenshoe: | $7,909,165
|
| Shares: | 3,101,638
|
| Price: | $17.00
|
| Warrants: | No
|
| Bookrunners: | William Blair & Co., LLC and JMP Securities LLC
|
| Co-managers: | Needham & Co., LLC, Oppenheimer & Co. Inc., D.A. Davidson & Co. and Wunderlich Securities, Inc.
|
| Pricing date: | June 27
|
| Settlement date: | July 3
|
| Stock symbol: | NYSE: ELLI
|
| Stock price: | $16.36 at close June 26
|
| Market capitalization: | $367.81 million
|
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