Eloqua Ltd announces IPO
(Edit this deal
|Stock Offer Price:
||$11.50 per share
Number of Shares Offered:
| 8 million
||Aug 02, 2012
Related companies: Constant Contact, Responsys, ExactTarget
Related stocks: CTCT, MKTG, ET
Eloqua Ltd.'s initial public offering of 8 million common shares priced at $11.50 a share, the high end of the projected pricing range.
The software company first filed plans for an estimated IPO of $100 million in August to help repay debt. And last month, Eloqua said it expected the offering of 8 million shares to price between $9.50 and $11.50 each.
Eloqua is selling 7 million shares and the rest are being offered by stockholders.
Eloqua makes software to help manage revenue performance. Its products, which it refers to as the Eloqua Platform, are designed for businesses to use to increase revenue and improve sales predictability by automating, monitoring and measuring marketing and sales initiatives.
In addition to its software-as-a-service offering sold through subscriptions, it also provides professional services and educational courses to support its customers as they use the platform.
The company has more than 1,100 customers, including Adobe Systems Inc. (ADBE), American Express Co. (AXP), Dell Inc. (DELL) and the Miami Heat, the National Basketball Association team.
Eloqua intends to trade on the Nasdaq Global Market under the symbol ELOQ.
|IPO Lead Underwriter:
||J.P. Morgan and Deutsche Bank Securities