CARY, NC – SciQuest Inc., which sells on-demand supply and procurement software, plans to trade on Nasdaq after launching its initial public offering of stock rather than on the NYSE as originally planned. The company disclosed the change in a filing with the U.S. Securities and Exchange Commission.
SciQuest plans to raise $75 million in the IPO.
The venture-backed company’s investors include Trinity Ventures, Intersouth Partners and River Cities Capital. They helped SciQuest go private when it was previously a public company.
SciQuest is one of the Research Triangle’s turnaround success stories. It came back from the brink of near dissolution under the leadership of CEO Stephen Wiehe, who was recently named Ernst & Young’s Entrepreneur of the Year for the Carolinas.
The company is one of a handful of SaaS pioneers in the Research Triangle.
Wiehe has been a speaker at TechJournal South’s Internet Summit.
See: SciQuest files for $75M IPO, capping a turnaround story
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Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org
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Tags: IPOs, NC, SciQuest, Stephen Wiehe
