Paycom Software Inc prices initial public offering


Monday, 14 Apr 2014 06:45pm EDT 

Paycom Software Inc:Prices initial public offering of 6,645,000 shares of common stock at $15.00 per share.Shares are expected to begin trading on New York Stock Exchange on April 15, under symbol PAYC.Aggregate of 4,606,882 of these shares are being sold by the company and 2,038,118 of these shares are being sold by certain named selling stockholders.In addition, underwriters have a 30-day option to purchase up to 996,750 additional shares of common stock from selling stockholders to cover over-allotments, if any.Intends to use net proceeds from offering to repay outstanding indebtedness.Barclays Capital Inc. and J.P. Morgan Securities LLC are acting joint book-runners for offering.Pacific Crest Securities LLC, Stifel and Canaccord Genuity Inc. are acting co-managers.