Cvent, Inc. (NYSE: CVT), a leading cloud-based enterprise event management platform, announced today that it closed its public offering of 5,280,000 shares of its common stock, an increase of 10% from the original offering size, and that the underwriters have exercised, in full, their option to purchase up to 792,000 additional common shares. As a result, the total follow-on offering size was 6,072,000 shares, which consists of 747,500 shares sold by Cvent and 5,324,500 shares sold by selling stockholders. All shares included in the offering were sold to the public at a price of $35.50 per share. Cvent received net proceeds of approximately $25.4 million, after underwriting discounts and commissions, and before deducting offering-related expenses. These proceeds will be used for offering-related expenses, working capital and general corporate purposes, including further expansion of Cvent’s operations and product development. Cvent will not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Pacific Crest Securities LLC, Stifel, Nicolaus & Company, Incorporated, and Needham & Company, LLC acted as co-managers.
A registration statement relating to these securities was filed with, and declared effective by, the US Securities and Exchange Commission. This offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, 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: firstname.lastname@example.org.
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.