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…
Read this and other articles @ Spend Matters