SciQuest is rolling out a 3 million share offering today that could be worth some $90 million. The company says it will use the proceeds as working capital plus “general corporate purposes.”

Underwriters have the option to purchase another 450,000 shares.

SciQuest (Nasdaq: SQI) formally announced the offering after the markets closed Monday.

Shares in the online procurement services firm closed on Friday at $30.41 and on Monday at $29.56.

Shares have traded between $18.10 and $32.69 over the past year.

 J.P. Morgan Securities LLC, Stifel, Canaccord Genuity, JMP Securities, Pacific Crest Securities, Raymond James & Associates, William Blair & Company, Barrington Research Associates and Sidoti & Company are handling the offering.