Benefitfocus prices upsized IPO above the range at $26.50, raising $131 million

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Benefitfocus, which provides a cloud-based platform for employee benefits management, raised $131 million by offering 4.9 million shares (39% insider) at $26.50, above the range of $21.50 to $24.50. The company had originally filed to offer 4.5 million shares (33% insider); all of the additional shares were offered by existing shareholders. Benefitfocus, which initially filed confidentially on 5/10/13, plans to list on the NASDAQ under the symbol "BNFT". Goldman Sachs, Deutsche Bank and Jefferies & Co. acted as lead managers on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: BNFT

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