Coupa Software Inc. (NASDAQ: COUP) has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for a secondary offering. No pricing details were listed in the filing but 3.7 million shares are being sold in the offering with an overallotment option for an additional 555,000 shares. At the most recent closing price $24.50, the entire offering is valued up to $104.25 million.
The underwriters for the offering are Morgan Stanley, JPMorgan, Barclays, RBC Capital Markets, Cantor Fitzgerald, JMP Securities, Raymond James and BTIG.
This is a leading provider of spend management solutions, with a unified, cloud-based spend management platform that connects more than 530 organizations with more than 2 million suppliers globally. Its platform provides greater visibility into and control over how companies spend money. Using the platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Since its inception, customers have used the platform to bring more than $360 billion of cumulative spend under management, which it estimates has resulted in more than $12 billion of customer savings to date, based on applying certain savings rates derived from industry benchmarks.
The cloud-based platform has been designed for the modern global workforce that is mobile and expects real-time results, flexibility and agility from software solutions. Coupa empowers employees to acquire the goods and services they need to do their jobs by applying a distinctive user-centric approach that provides a mobile-enabled consumer Internet-like experience, drives widespread adoption of its platform and, therefore, significantly increases spend under management.
In the filing, Coupa detailed its finances as follows:
For our fiscal years ended January 31, 2017 and 2016, our revenues were $133.8 million and $83.7 million, respectively, and our net losses were $37.6 million and $46.2 million, respectively, as we focused on growing our business.
The company will receive about $2 million in net proceeds from this offering, with the majority of proceeds going toward the selling stockholders.
Shares of Coupa were last seen up nearly 1% at $24.73 on Tuesday, with a consensus analyst price target of $30.38 and a 52-week trading range of $22.50 to $41.61.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
