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WageWorks Inc Announces Pricing Of Follow-On Public Offering

Tuesday, 12 Mar 2013 11:14pm EDT 

WageWorks Inc announced the pricing of its follow-on public offering of 5,631,115 shares of its common stock at a price to the public of $24.00 per share. WageWorks is selling 500,000 shares of common stock in this offering, and selling stockholders are selling 5,131,115 shares of common stock in this offering. The underwriters have an option to purchase a maximum of 844,667 additional shares from the selling stockholders identified in the prospectus for this offering to cover overallotments, if any. WageWorks will not receive any proceeds from the sale of shares to be offered by the selling stockholders. The principal purposes of this offering are to facilitate an orderly distribution of shares for the selling stockholders, to increase the public float and to raise additional capital. The proceeds of the primary portion of the offering will be used to provide additional working capital for WageWorks and general corporate purposes, including further expansion of sales and marketing efforts, continued investments in technology and development and for capital expenditures. William Blair & Company, L.L.C. and Stifel, Nicolaus & Company, Incorporated are serving as joint book-running managers for the offering, with JMP Securities LLC and Needham & Company, LLC, acting as co-managers. 

Company Quote

-0.32 -0.53%
18 Dec 2014