Envestnet, Inc. (NYSE: ENV), today announced that it has priced its
initial public offering of 7,000,000 shares of common stock. Of the
shares being offered, 4,705,500 shares of common stock are being sold by
Envestnet, Inc. and 2,294,500 shares of common stock are being sold by
selling stockholders, at a price of $9.00 per share. Envestnet, Inc. and
the selling stockholders have granted the underwriters an option to
purchase an additional 705,825 shares from Envestnet, Inc. and 344,175
shares from the selling stockholders. Envestnet, Inc. will not receive
any proceeds from the sale of shares by the selling stockholders. The
shares will begin trading on the New York Stock Exchange under the
ticker symbol “ENV” on Thursday, July 29, 2010. The adjusted information
upon which the NYSE relied to list Envestnet, Inc. is included in
Envestnet, Inc.’s Original Listing Application filed with the NYSE. Such
information is available to the public upon request. Envestnet, Inc.
will also include the adjusted financial data for the year ended
December 31, 2009 in its final Original Listing Application to be filed
with the NYSE.
Morgan Stanley & Co. Incorporated, UBS Securities LLC and Barclays
Capital Inc. are acting as joint book-running managers, and William
Blair & Company L.L.C., RBC Capital Markets Corporation, Stifel,
Nicolaus & Company, Incorporated, Sandler O’Neill & Partners, L.P. and
Melvin Securities, LLC are serving as co-managers for the offering.
A registration statement relating to the shares of common stock was
declared effective by the Securities and Exchange Commission today. Any
offer or sale will be made only by means of a written prospectus forming
part of the effective registration statement. A copy of the prospectus
related to the offering, when available, may be obtained from Morgan
Stanley & Co. Incorporated, via telephone: (866) 718-1649; email: prospectus@morganstanley.com;
or standard mail at Morgan Stanley & Co. Incorporated, 180 Varick
Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, from
UBS Investment Bank, 299 Park Avenue, New York, New York 10171,
Attention: Prospectus Department, 1-888-827-7275, or from Barclays
Capital Inc., c/o Broadridge Financial Solutions, at 1155 Long Island
Avenue, Edgewood, New York 11717, Toll Free (888) 603-5847, or by email
at barclaysprospectus@broadridge.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Envestnet (NYSE: ENV)
Envestnet, Inc. is a leading independent provider of technology-enabled,
Web-based investment solutions and services to financial advisors, who
are independent, as well as those who are associated with small or
mid-sized financial advisory firms and larger financial institutions.
Envestnet’s technology is focused on addressing financial advisors’
front-, middle- and back-office needs. Envestnet is headquartered in
Chicago. For more information on Envestnet, Inc. please go to www.envestnet.com.
Envestnet, Inc.
Investor Relations
312-827-3940
investor.relations@envestnet.com
or
Media
Relations
mediarelations@envestnet.com
