Rally Software Files Registration Statement for Proposed Follow-on Offering

BOULDER, Colo., July 12, 2013 /PRNewswire/ -- Rally Software (NYSE: RALY), a leading provider of cloud-based solutions for managing Agile software development, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") for a proposed $70 million public offering of shares of its common stock. The offering is expected to consist primarily of shares from certain existing stockholders. In addition, Rally Software expects to offer 250,000 shares. Rally Software will not receive any proceeds from the sale of the shares by the selling stockholders.

The primary purposes of the offering are to facilitate an orderly distribution of shares by the selling stockholders, increase the company's public float and increase the company's financial flexibility.

Deutsche Bank Securities Inc. and Piper Jaffray & Co. are acting as joint book-running managers, with Needham & Co., LLC, JMP Securities LLC and William Blair & Company, L.L.C. acting as co-managers for the offering.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained, when available, from Deutsche Bank Securities Inc., Attention: Prospectus Department, at 60 Wall Street, New York, New York 10005-2836, via telephone at (800) 503-4611 or email at [email protected]; or from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at 800-747-3924 or email at [email protected],

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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.

SOURCE Rally Software

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