Friday, September 11, 2015

Q2 Holdings Plans Another Follow On Offering

Austin-based virtual banking software provider Q2 Holdings said this morning that it is planning a follow on public offering, where some of its stockholders plan on selling 3,798,996 shares of its common stock. Q2 said it plans to sell 863,409 shares, with its existing shareholders selling the remainder. Q2 Holdings said it has filed an S-3 regarding the follow on offering. Q2 did not say which stockholders plan on selling shares in the offering, however, given the timing of the move, it's likely that some of its venture backers are looking for more liquidity in their investments in the company, now that it has been public for a year and a half. The company already had a secondary offering earlier in the year. Q2 had its IPO in March of 2014.