WageWorks, Inc. (WAGE: Quote) announced the pricing of follow-on public offering of 5.63 million shares of common stock at $24.00 per share.
WageWorks is selling 500 thousand common shares and selling stockholders are selling 5.13 million shares in this offering.
The company stated that the underwriters have an option to buy a maximum of 844,667 additional shares from selling stockholders to cover overallotments.
WageWorks said that it will not receive any proceeds from sale of shares by the selling stockholders.
The proceeds of the primary portion of the offering will be used to provide additional working capital for WageWorks and general corporate purposes.
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by RTT Staff Writer
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