Financial Engines, Inc. announced filing of a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for the proposed initial public offering of $100 million of Common Stock.
Palo Alto, California-based Financial Engines is a provider of independent, technology-enabled portfolio management services, investment advice and retirement help to participants in employer-sponsored defined contribution retirement plans, such as 401(k) plans.
Financial Engines said it intends to list the common stock on The Nasdaq Global Market under the symbol "FNGN."
The company said in the filing that it intends to use this offering proceeds to prepay the outstanding indebtedness, and for general corporate purposes, including working capital and capital expenditures.
Goldman, Sachs & Co., UBS Investment Bank, Piper Jaffray & Co. and Cowen and Company, LLC are expected to be the underwriters for the offering.
According to the filing, Entities affiliated with Foundation Capital Leadership Fund, L.P., Entities affiliated with New Enterprise Associates VII, L.P., Entities affiliated with Oak Hill Capital Partners, L.P., are the principal stockholders in the company.
For the nine-months ended September 30, 2009, the company reported net income attributable to holders of common stock of $1.68 million and generated total revenue of $58.85 million, compared to loss attributable to holders of $1.5 million, and revenue of $52.26 million, in the same period of 2008.
The company posted net loss attributable to holders of common stock of $5.97 million, $1.8 million and $8.91 million, for the years ended December 31, 2008, 2007 and 2006, respectively.
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