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Cvent Announces Closing Of $135 Million Initial Public Offering

Stocks in this article: CVT

Cvent, Inc. (NYSE: CVT), a leading cloud-based enterprise event management platform, announced that yesterday it closed its previously announced initial public offering of 5,600,000 shares of its common stock at a price to the public of $21.00 per share. All of the common stock was offered by Cvent. The shares began trading on the New York Stock Exchange on August 9, 2013, under the ticker symbol "CVT." In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 840,000 shares of common stock from the company.

Cvent received gross proceeds of approximately $135 million from the offering, including the exercise of the overallotment option. The company intends to use the proceeds from this offering, net of underwriting discounts and commissions, for working capital and general corporate purposes, including further expansion of operations and product development.

Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated, Pacific Crest Securities LLC and Needham & Company, LLC acted as co-managers.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. 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.

The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, or by calling (866) 718-1649, or by emailing prospectus@morganstanley.com, 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: prospectus-ny@ny.email.gs.com.

About Cvent

Cvent 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; and to hotels for targeted advertising to event planners looking for suitable venues thus serving the entire event management value chain and enabling our clients around the world to manage hundreds of thousands of events and meetings.

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