Wednesday, October 31, 2012
ServiceNow Files For Secondary IPO Offering
San Diego-based ServiceNow is looking to sell $300M in a secondary IPO offering, according to a filing made by the company Wednesday. The firm said it will not receive any proceeds from the sale by the selling stockholders. ServiceNow went public in June, pricing at $18.00 per share; the firm is now trading around $30.65 per share on the NYSE as NOW. The firm's major stockhoders are JMI Equity (44.64% ownership) and Sequoia Capital (19.68%). The secondary is being underwritten by Morgan Stanley, Citigroup, Deutsche Bank Securities, Barclays, Credit Suisse, UBS Investment Bank, Pacific Crest Securities, and Wells Fargo Securities. ServiceNow is a provider of IT automation software.