DLA Piper advises the underwriters in Upland Software's US$119 million common stock offering

Rhea-AI Summary

On August 18, 2020, Upland Software conducted a registered public offering, raising US$119 million by selling 3,500,000 shares at $34.00 each. The offering included a 30-day option for underwriters to purchase an additional 525,000 shares. Credit Suisse led the underwriting syndicate, which featured Jefferies, Canaccord Genuity, and others. This strategic funding aims to bolster Upland's position in the cloud-based digital transformation sector, potentially enhancing its growth prospects.

Positive

• Raised US$119 million from the public offering.
• Shares priced at $34.00, indicating a strong market interest.
• Underwriters include reputable firms like Credit Suisse and Jefferies.

Negative

• None.

AUSTIN, Texas, Aug. 18, 2020 /PRNewswire/ -- DLA Piper represented the underwriters in the US$119 million registered public offering of 3,500,000 shares of common stock of Upland Software, Inc. (Nasdaq: UPLD), an Austin-based leader in cloud-based tools for digital transformation, at a price of $34.00 per share.

Upland granted the underwriters a 30-day option to purchase an additional 525,000 shares of common stock. The underwriting syndicate was led by Credit Suisse as lead book-running manager for the offering. Jefferies, Canaccord Genuity and Needham & Company are acting as book-running managers. Craig-Hallum Capital Group, Raymond James, Roth Capital Partners and William Blair are acting as co-managers for the offering.

"We were pleased to deliver our extensive technology and capital markets experience to this transaction," said John J. Gilluly III, global co-chair of DLA Piper's Corporate practice, who led the firm's deal team.

In addition to Gilluly (Austin), the DLA Piper deal team advising Upland included associates Drew Valentine, Chen Zhang and Rebekah Rodriguez (all of Austin).

DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered  equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.

About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

View original content:http://www.prnewswire.com/news-releases/dla-piper-advises-the-underwriters-in-upland-softwares-us119-million-common-stock-offering-301114167.html

SOURCE DLA Piper

FAQ

What was the amount raised in Upland Software's recent offering?

Upland Software raised US$119 million in a registered public offering.

How many shares were offered by Upland Software?

A total of 3,500,000 shares were offered in the recent public offering.

What was the price per share for Upland Software's stock offering?

The shares were priced at $34.00 each.

Who led the underwriting syndicate for Upland Software's offering?

Credit Suisse served as the lead book-running manager for the offering.

Is there an option for additional shares in Upland Software's offering?

Yes, underwriters were granted a 30-day option to purchase an additional 525,000 shares.