Tuesday, September 5, 2017

Alteryx Launches Follow-On Offering

Irvine-based data analytics software developer Alteryx said on Tuesday afternoon that it plans to launch a follow-on offering to its IPO, with some of its existing stockholders proposing to sell 8,000,000 shares of its Class A common stock, and up to an additional 1,200,000 shares to underwriters. Alteryx said it will not receive any proceeds from the sale of the shares. The follow-on offering comes almost six months after the successful IPO of Alteryx on the New York Stock Exchange in March. Although Alteryx did not details who those existing stockholders are, it's likely the beneficiaries of the sale are the company's early venture capital investors. Typically, in an IPO, those early stockholders are unable to sell for at least six months after a company's IPO. Usually, a company's venture backers sell most, if not all, of their shares post IPO, as they look to provide a return to the limited partners (LPs) in their venture funds. Alteryx is venture backed by Insight Venture Partners, Sapphire Ventures, Thomson Reuters, Toba Capital (the investment arm of Vinny Smith, who founded Quest Software), and ICONIQ Capital