Wednesday, July 20, 2011
Cornerstone OnDemand Plans Secondary Offering
Santa Monica-based Cornerstone OnDemand, the developer of software-as-a-service for human resources and employee talent management, is planning a secondary offering of its stock, six months after the firm's successful IPO. According to a new, S-1 filing by the firm on Wednesday, it is looking to offer up 9,775,000 shares of its common stock on the markets, to raise up to $171.65M more for the firm. Cornerstone OnDemand has its IPO in March, debuting at $13.00 per share. The firm is now trading around $18.05 per share. The new offering is being run by Goldman, Sachs & Co., Barclays Capital, William Blair & Company, Pacific Crest Securities, Piper Jaffray Needham & Company, LLC, and JMP Securities.