AUSTIN, Texas, Nov. 5, 2014 /PRNewswire/ -- Upland Software, Inc., a leader in cloud-based Enterprise Work Management applications, today announced the pricing of its initial public offering of 3,846,154 shares of its common stock at a price to the public of $12.00 per share. In connection with this offering, Upland has granted the underwriters a 30-day option to purchase up to an additional 576,923 shares of common stock at the price to the public. All of the common stock in the initial public offering is being offered by Upland. The shares are expected to begin trading on the Nasdaq Global Market on November 6, 2014 under the ticker symbol "UPLD." The offering is expected to close on November 12, 2014.
Upland expects to use the net proceeds of the offering to repay a portion of its bank debt and for working capital and general corporate purposes, including to finance its growth through acquisitions and by expanding its sales force.
William Blair & Company, L.L.C. and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. Canaccord Genuity Inc. is acting as lead manager for the offering and Needham & Company, LLC is acting as co-lead manager for the offering.
The offering of common stock will be made only by means of a prospectus, copies of which may be obtained, when available, from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, by telephone at (800) 621-0687 or email at [email protected], and Raymond James & Associates, Attention: Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by telephone at (800) 248-8863 or email at [email protected].
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 5, 2014. The registration statement can be accessed through the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Upland Software
Upland is a leading provider of cloud-based Enterprise Work Management software. Our family of applications connects people through technology, automates the flow of work and brings visibility to all aspects of the organization. With more than 1,200 enterprise customers around the globe, and over 200,000 users, Upland helps teams in IT, marketing, finance, professional services and process excellence run their operations smoothly, adapt to change quickly and achieve better results every day.
Forward-looking Statements
This press release contains forward-looking statements, which are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. Forward-looking statements include information concerning the proposed offering. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that we will consummate an initial public offering. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations & Media Contact:
Karoline McLaughlin
Upland Software
512.960.1028
[email protected]
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SOURCE Upland Software, Inc.
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