It’s been a while since Ariba has had company in the public marketplace, as they are the only pure-play focused procurement vendor on the NASDAQ (other public companies such as Concur focus on auxiliary areas). In fact, you’d have to go back to 2001/2002 when vendors like Commerce One, FreeMarkets and numerous others were still operating independently while floating on the NASDAQ. Yet if this recent article from the North Carolina News & Observer is any indication, it looks like SciQuest could be joining Ariba as a public company sooner than many may think.
According to the story (which we’ve also covered here previously, SciQuest originally hatched — or announced — its initial intent to go public in March of this year, with the filing of its first S1 (an initial draft of a prospectus to potential shareholders). But now, as of “late Thursday” last week, “the company disclosed new pricing details in a filing with the Securities and Exchange Commission, signaling that the deal is closer to moving ahead.”
Specifically, SciQuest now plans to sell as many as 6.9 million shares at $9.50 to $11.50 each, a sum that would raise in excess of $55 million after expenses (if priced at $10.50 per share). The proposed maximum offering is nearly $80 million. Readers should note, however, that these numbers (both number of shares and share pricing) could change, as SciQuest continues to receive feedback from investors prior to final pricing and issuance…
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