Q2 Holdings Plans Secondary Offering

Austin-based Q2 Holdings said Monday afternoon that it plans to launch a secondary offering on the public markets, and will sell 4,559,156 shares of its common stock. The offering is worth approximately $91M. Q2 said that it is selling 1,500,000 shares in the offering with 3,059,156 shares being offered by certain selling stockholders. The offering is being run by J.P. Morgan, Morgan Stanley and Stifel, along with Raymond James, Canaccord Genuity and Needham & Company. The public offering comes almost a year after Q2's IPO. Q2 did not say which stockholders plan to sell shares in the offering, but it's not unusual for venture investors to reduce their holdings in their portfolio companies once they have gone public. Q2 develops banking and financial software. Q2 is listed on the NYSE as QTWO.