Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Reval Holdings File For $75 Mln IPO

3/30/2012 1:37 PM ET

Reval Holdings Inc. Friday filed a statement with the Securities and Exchange Commission for an initial public offering of up to $75 million in common stock. Reval Holdings, a provider of cloud-based treasury and risk management software, did not disclose any details, including price range of the offering, number of shares offered, and its trading ticker symbol.

Reval plans to use the proceeds from offering for working capital and other general corporate purposes. The company said it may use a portion of the proceeds to acquire complementary technologies.

For 2011, the company recorded a loss of $17.3 million on total revenues of $45 million.

Reval provides comprehensive and integrated treasury and risk management solutions to over 550 clients in more than 20 countries. The company's clients include enterprises such as Bose, Ford, Microsoft, Starbucks Coffee, Tiffany & Co., and Visa.

The company listed Merrill Lynch, Pierce, Fenner & Smith Inc., Stifel, Nicolaus & Co. Inc., BMO Capital Markets Corp., Lazard Capital Markets LLC and Raymond James & Associates Inc. as underwriters.

In the filing, Reval said, "We have never declared or paid any dividends on our common stock. We anticipate that we will retain all of our future earnings, if any, for use in the operation and expansion of our business and do not anticipate paying cash dividends in the foreseeable future."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Justin Moore has been named Humanitarian of the Year by by the Armed Forces Foundation. Moore received the award alongside Big Machine Label Group President/CEO Scott Borchetta for their service and commitment to the morale and welfare of military families through the Crown Royal "Your Hero's Name Here" contest. International Business Machines Corp. said Wednesday after the markets closed that its first quarter profit fell 21% from last year, hurt by lower revenue as well as a hefty workforce rebalancing charge. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Stocks moved sharply higher over the course of the trading day on Wednesday, further offsetting the steep losses posted late last week. The markets benefited from a positive reaction to the latest earnings news as well as remarks by Federal Reserve Chairman Janet Yellen. The major averages saw further upside going into the close, ending the session at their best levels of the day.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.