July 8 Cvent Inc, an online event management
software provider, filed with the U.S. Securities and Exchange
Commission to raise up to $100 million in an initial public
offering of common stock.
The company, backed by private equity firm Insight Venture
Management LLC and venture capital firm New Enterprise
Associates Inc, told the SEC that Morgan Stanley and Goldman
Sachs were the lead underwriters for the IPO.
The preliminary prospectus did not reveal how many shares
the company planned to sell or their expected price. ()
McLean, Virginia-based Cvent, which intends to list its
common stock on the New York Stock Exchange under the symbol
"CVT, provides software that helps customers plan events, find
venues, create mobile apps and send surveys.
Net proceeds from the offering would be used for business
expansion and working capital, the company said.
Cvent, founded in 1999, reported a profit of $4.3 million on
revenue of $83.47 million in 2012. It has about 1,300 employees
as of May 31.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.