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FT Partners Advises Ellie Mae in its $45 Million IPO

FT Partners Advises Ellie Mae in its $45 Million IPO
Overview of Transaction
  • On April 14, 2011, Ellie Mae (the "Company") priced 7.5 million shares at $6 per share in its initial public offering, implying a total offering size of $45 million
  • The Company began trading on the NYSE Amex under the ticker ELLI on April 15, 2011
  • Ellie Mae sold 5 million shares in the offering with the remaining 2.5 million sold by existing stockholders
  • Underwriters were granted the option to purchase up to an additional 1.125 million shares from selling stockholders to the extent they sold more than 7.5 million shares
Significance of Transaction
  • The IPO will provide capital to fund future growth and enable the Company to more effectively serve its user base
  • Ellie Mae intends to add additional functionality to its products and services to increase the number of network participants
  • In addition to returning capital to shareholders, proceeds of the transaction will be used for general corporate purposes, acquisitions and / or investments in new technologies, solutions or businesses
FT Partners' Role
  • FT Partners served as financial and IPO advisor to Ellie Mae in the following capacity:
  • Comprehensive advisory on internal preparedness, financial analysis, strategic positioning, valuation, underwriter management, marketing material preparation, market analysis, transaction structure / timing and post-IPO preparation
  • Worked extensively with management to evaluate the Company's operating model and projections and identify key business metrics
  • Offered communication support between management and underwriter teams
  • Provided guidance on transaction timing, market dynamics and valuation throughout the process and at pricing