MINNEAPOLIS, Sept. 6, 2012 (GLOBE NEWSWIRE) -- SPS Commerce (Nasdaq:SPSC), a leading provider of on-demand supply chain management solutions, announced today the pricing of its previously announced underwritten public offering. SPS Commerce is offering 1,600,000 shares of its common stock at $33.50 per share to the public. In connection with the offering, SPS Commerce has also granted to the underwriters a 30-day option to purchase up to 240,000 additional shares of common stock from SPS Commerce to cover any over-allotments.
Net proceeds from the offering are expected to be used to repay outstanding indebtedness under the Company's line of credit and for working capital and general corporate purposes, including potential acquisitions. The offering is expected to settle and close on September 11, 2012, subject to customary closing conditions.
Stifel Nicolaus Weisel is acting as sole book-running manager in the offering, William Blair, JMP Securities and Needham & Company, LLC are acting as lead managers, and Canaccord Genuity, Craig-Hallum Capital Group and Northland Capital Markets are acting as co-managers.The offering is being conducted pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from Stifel Nicolaus Weisel at One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by calling (415) 364-2720. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of SPS Commerce, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
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