|By Business Wire||
|January 16, 2014 09:24 PM EST||
Cvent, Inc. (NYSE: CVT), a leading cloud-based enterprise event management platform, today announced the upsizing and pricing of its follow-on offering. Due to strong demand, the size of the offering has been increased from the previously announced 4,800,000 shares of common stock to 5,280,000 shares of common stock at a price of $35.50 per share.
The offering consists of 4,630,000 shares from certain existing stockholders and 650,000 shares from Cvent. In addition, the underwriters have a 30-day option to purchase up to 792,000 additional shares of common stock from Cvent and the selling stockholders. In connection with the offering, Cvent, its directors and executive officers, and all selling stockholders have agreed to lock-up agreements that will extend the initial public offering lock-up period until 90 days after this follow-on offering.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Pacific Crest Securities LLC, Stifel, Nicolaus & Company, Incorporated, and Needham & Company, LLC are acting as co-managers.
A registration statement relating to these securities was filed with, and declared effective by, the US Securities and Exchange Commission. This offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, or from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cvent, Inc. (NYSE: CVT) is a leading cloud-based enterprise event management platform. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys. Cvent provides hotels with a targeted advertising platform designed to reach event planners looking for suitable venues. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events.
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