Published on November 21, 2009 at 2:01 AM
Medidata Solutions, Inc. (NASDAQ: MDSO), a leading global provider of hosted clinical development solutions, today announced that it filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 4.5 million shares of common stock of the company. The shares are being offered by certain stockholders of the company, including funds affiliated with Insight Venture Partners. Medidata Solutions will not receive any of the proceeds from the intended offering. To the extent that the underwriters sell more than 4.5 million shares of common stock, the selling stockholders intend to grant the underwriters an option for a period of 30 days to purchase up to 675,000 additional shares of common stock.
Citigroup Global Markets, Inc. and Credit Suisse Securities (USA) LLC are acting as joint bookrunning managers for the proposed offering. Jefferies & Company, Inc. and Needham & Company, LLC are acting as co-managers.
Source: Medidata Solutions, Inc.
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Tags: Biotechnology