Q2 aims to price IPO of 6.25 million shares between $11.00 and $13.00

Funds used to repay $1.3 million of debt under 4.168% credit facility

By Devika Patel

Knoxville, Tenn., March 6 - Q2 Holdings, Inc. will price its initial public offering of 6.25 million common shares with a greenshoe for 1,164,131 additional shares, according to an S-1/A filed Thursday with the Securities and Exchange Commission.

The company will sell the shares at a price expected to fall between $11.00 and $13.00 per share. It also registered 1,510,870 shares to be sold by selling stockholders.

J.P. Morgan Securities LLC and Stifel, Nicolaus & Co., Inc. are the joint bookrunning managers, and RBC Capital Markets LLC, Raymond James & Associates, Inc., Canaccord Genuity, Inc. and Needham & Co., LLC are the co-managers.

Proceeds will be used to repay about $1.3 million of debt under the company's 4.168% credit facility with Wells Fargo Bank, NA, which matures on April 11, 2017.

The Austin, Texas, company provides cloud-based virtual banking services. It expects its shares to trade on the New York Stock Exchange under the symbol "QTWO."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.