SciQuest aims to raise $79M with stock offering

Local Tech Wire

CARY, N.C. – took another step toward its return to the public stock market Thursday, filing a prospectus with the Securities and Exchange Commission that spells out plans for its IPO.

The privately held venture, which is backed in part by Intersouth Partners in Durham, says in the filing that it wants to sell 6.9 million shares at a price of $11.50 for a total package of $79.3 million.

SciQuest set a range of $9.50 to $11.50 for the shares.

No date was set for the IPO.

The company disclosed its IPO plans in March with a target raise of $75 million.

ScitQuest shares would trade on the NASDAQ under the symbol SQI.

Of the 6.9 million shares, 900,000 are reserved for the underwriters.

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