Envestnet, Inc. (NYSE:ENV), a leading provider of unified wealth
management technology and services to investment advisors, announced
today that it has filed a registration statement with the Securities and
Exchange Commission for a proposed public offering by it and selling
stockholders of 4,800,000 shares of common stock, plus up to 720,000
shares that may be purchased by the underwriters to cover the
underwriters’ over-allotments, if any. The Company is offering 200,000
shares (or 920,000 if the underwriters exercise their over-allotment in
full), and the selling stockholders are offering the balance of the
shares. The Company intends to use the net proceeds from the offering
for general corporate purposes, including acquisitions. The Company will
not receive any proceeds from the sale of shares by the selling
shareholders.
William Blair and Stifel are acting as joint book-running managers of
the offering and BMO Capital Markets, Sandler O’Neill + Partners, L.P.,
Sterne Agee and Avondale Partners are acting as co-managers.
A copy of the prospectus relating to these securities, when available,
may be obtained by contacting either: William Blair & Company, L.L.C.,
Attention: Prospectus Department, 222 West Adams, Chicago, Illinois
60606, Telephone: 800-621-0687 or Stifel, Nicolaus & Company,
Incorporated, One Montgomery Street, Suite 3700, San Francisco,
California 94104, Telephone: 415-364-2720.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission 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 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.
About Envestnet, Inc.
Envestnet, Inc. (NYSE:ENV) is a leading provider of unified wealth
management technology and services to investment advisors. Its
open-architecture platforms unify and fortify the wealth management
process, delivering unparalleled flexibility, accuracy, performance and
value. Envestnet solutions enable the transformation of wealth
management into a transparent, independent, objective and fully-aligned
standard of care, and empower advisors to deliver better results.
Envestnet's Advisor Suite® software empowers financial advisors to
better manage client outcomes and strengthen their practice. Envestnet
provides institutional-quality research and advanced portfolio solutions
through its Portfolio Management Consultants group, Envestnet | PMC®.
Envestnet | Tamarac provides leading rebalancing, reporting and practice
management software.
For more information on Envestnet, please visit www.envestnet.com.
Copyright Business Wire 2013