Reuters: Regulatory News: UPDATE 1-Eloqua sees IPO priced at $9.50-$11.50/shr

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UPDATE 1-Eloqua sees IPO priced at $9.50-$11.50/shr Jul 20th 2012, 11:04 Fri Jul 20, 2012 7:04am EDT * Plans to list on Nasdaq under symbol 'ELOQ' * JP Morgan, Deutsche Bank lead underwriters July 20 (Reuters) - Software company Eloqua Limited said it expects its initial public offering of 8 million shares to be priced between $9.50 and $11.50 each. At the midpoint of the expected price range, the company expects to raise $65.5 million from the IPO after deducting underwriting and other expenses, Eloqua said in an amended filing with the U.S. Securities and Exchange Commission. The company, backed by JMI Equity Fund, Bay Partners and Bessemer Venture Partners, provides software solutions that enable businesses to predict and grow revenue by monitoring and measuring their complex marketing and sales initiatives. While the company is selling 7 million shares, its private equity owners are selling the remaining shares. The company said it will use the IPO proceeds for general corporate purposes, aid future expansion and repay debts. Eloqua, which provides services to a wide range of industries, has over 1,000 customers including Adobe Systems , Cisco, Dell Inc and the Miami Heat and Sacramento Kings teams in the NBA. The company plans to list its shares on the Nasdaq global market under the symbol "ELOQ." J.P. Morgan Securities and Deutsche Bank Securities are the lead underwriters for the offering. The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. Link this Share this Digg this Email Reprints

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