Coupa Software Announces Proposed Public Offering of Common Stock by Selling Stockholders
Coupa Software announced a proposed underwritten public offering of 2,149,008 shares of its common stock on November 2, 2020. All shares are being sold by existing stockholders, including funds affiliated with TPG Global, Goldman Sachs, and MK Capital. Coupa will not receive any proceeds from this offering, with Goldman Sachs & Co. LLC acting as the sole underwriter. An automatic shelf registration statement regarding the shares has been filed with the SEC and is effective immediately. Final terms will be disclosed in a subsequent prospectus.
- Proceeds from the sale will benefit existing stockholders.
- Goldman Sachs is an established underwriter.
- Coupa will not receive any proceeds from the stock sale, limiting its direct financial benefit.
- Potential for shareholder dilution if market reacts negatively.
SAN MATEO, Calif., Nov. 2, 2020 /PRNewswire/ -- Coupa Software Incorporated (Nasdaq: COUP) ("Coupa") announced today the launch of a proposed underwritten public offering of 2,149,008 shares of its common stock. All of the shares are being offered by existing stockholders and Coupa Software will not receive any of the proceeds from the offering. The selling stockholders include funds affiliated with TPG Global, LLC, The Goldman Sachs Group, Inc. and MK Capital. Goldman Sachs & Co. LLC is serving as sole underwriter for the offering.
An automatic shelf registration statement (including a prospectus) relating to the shares to be sold in the offering was filed with the Securities and Exchange Commission ("SEC") on November 2, 2020, and became effective upon filing. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. You may obtain these documents for free by visiting the SEC's website at www.sec.gov. Additionally, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from Goldman Sachs & Co. LLC Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. The offering of the shares by the underwriter is subject to receipt and acceptance and subject to the underwriter's right to reject any order in whole or in part.
This press 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, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
All statements in this press release other than historical facts are forward-looking statements, which rely on a number of assumptions concerning future events, including whether or not the proposed offering will be consummated. Such statements are also subject to a number of uncertainties and factors outside Coupa's control. Such factors include, but are not limited to, uncertainty regarding and changes in global economic or market conditions and changes in government policies, laws, regulations and practices. Should any assumptions or these other uncertainties and factors materialize in ways that Coupa did not expect, actual results could differ materially from the forward-looking statements in this press release. While Coupa believes the assumptions underlying these forward-looking statements are reasonable under current circumstances, recipients should bear in mind that such assumptions are inherently uncertain. You are cautioned not to place undue reliance on such forward-looking statements or other information in this press release.
The forward-looking statements in this release reflect Coupa's expectations as of November 2, 2020. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in its expectations.
About Coupa
Coupa empowers companies around the world with the visibility and control they need to make smarter spending decisions.
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SOURCE Coupa Software
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