BROOKFIELD, Wis.–Connecture, Inc. (Connecture), today announced the pricing of its initial public offering of 6,635,000 shares of its common stock at a public offering price of $8.00 per share. The shares are expected to begin trading on December 12, 2014 on The Nasdaq Global Market (Nasdaq) under the ticker symbol “CNXR.” In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase from them up to an additional 995,250 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any. Connecture will not receive any proceeds from the sale of shares by the selling stockholders, if any.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Wells Fargo Securities, LLC is acting as lead manager and Raymond James & Associates, Inc. and William Blair & Company, L.L.C. are acting as co-managers for the offering.
The shares are being sold pursuant to a registration statement, which was declared effective by the Securities and Exchange Commission on December 11, 2014. The offering of these securities will only be made by means of a written prospectus forming a part of the effective registration statement. A copy of the prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649, or email: email@example.com; or J.P. Morgan Securities LLC, c/o: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204.
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 offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
Connecture is a leading web-based consumer shopping, enrollment and retention platform for health insurance distribution. Connecture offers a personalized health insurance shopping experience that recommends the best fit insurance plan based on an individual’s preferences, health status, preferred providers, medications and expected out-of-pocket costs. Connecture’s customers are health insurance marketplace operators such as health plans, brokers and exchange operators, who must distribute health insurance in a cost-effective manner to a growing number of insured consumers. Connecture’s solutions automate key functions in the health insurance distribution process, allowing its customers to price and present plan options accurately to consumers and efficiently enroll, renew and manage plan members.
Davies Murphy Group