|By Business Wire||
|August 27, 2013 05:27 PM EDT||
Envestnet, Inc. (NYSE:ENV), a leading provider of unified wealth management technology and services to investment advisors, announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering by it and selling stockholders of 4,800,000 shares of common stock, plus up to 720,000 shares that may be purchased by the underwriters to cover the underwriters’ over-allotments, if any. The Company is offering 200,000 shares (or 920,000 if the underwriters exercise their over-allotment in full), and the selling stockholders are offering the balance of the shares. The Company intends to use the net proceeds from the offering for general corporate purposes, including acquisitions. The Company will not receive any proceeds from the sale of shares by the selling shareholders.
William Blair and Stifel are acting as joint book-running managers of the offering and BMO Capital Markets, Sandler O’Neill + Partners, L.P., Sterne Agee and Avondale Partners are acting as co-managers.
A copy of the prospectus relating to these securities, when available, may be obtained by contacting either: William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams, Chicago, Illinois 60606, Telephone: 800-621-0687 or Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, Telephone: 415-364-2720.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Envestnet, Inc.
Envestnet, Inc. (NYSE:ENV) is a leading provider of unified wealth management technology and services to investment advisors. Its open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective and fully-aligned standard of care, and empower advisors to deliver better results.
Envestnet's Advisor Suite® software empowers financial advisors to better manage client outcomes and strengthen their practice. Envestnet provides institutional-quality research and advanced portfolio solutions through its Portfolio Management Consultants group, Envestnet | PMC®. Envestnet | Tamarac provides leading rebalancing, reporting and practice management software.
For more information on Envestnet, please visit www.envestnet.com.