SciQuest Goes Public
The company raised $57 million through the offering, and shares closed the first trading day up 6.7%. Among the companies in the SciQuest Supplier Network are suppliers of IT equipment, office supplies and lab supplies. (For SciQuest’s six-month results, see page 12.)
Cary, NC 9/24/10—SciQuest completed its IPO on the NASDAQ stock exchange (see IBO 3/31/10) on September 24. The company offered six million shares of its common stock at $9.50 per share. Underwriters were granted the option to purchase up to an additional 900,000 shares by certain selling stockholders. SciQuest provides on-demand software for strategic procurement solutions and serves more than 165 customers. For 2009 revenues, 56% were from the higher education market, 31% were from the life sciences market and 9% were from the health care market.
