SALT LAKE CITY, Feb. 15, 2018 /PRNewswire/ -- Instructure, Inc.
(NYSE: INST), a leading software-as-a-service (SaaS) technology
company that makes software that makes people smarter, today
announced the pricing of its registered underwritten public
offering of 2,500,000 shares of common stock at a price to the
public of $39.50 per share. In
addition, Instructure has granted the underwriters a 30-day option
to purchase up to an additional 375,000 shares of common stock. All
of the shares to be sold in the offering are to be sold by
Instructure. Instructure intends to use the net proceeds of
the offering for general corporate purposes, including working
capital, sales and marketing activities, research and development
activities, general and administrative matters and capital
expenditures. The offering is expected to close on
February 21, 2018.
Morgan Stanley and Credit Suisse acted as book-running managers
for the offering.
A shelf registration statement relating to the offering was
filed with the Securities and Exchange Commission (SEC), and was
automatically effective on filing on February 15, 2018. A preliminary prospectus
supplement related to the offering dated February 15, 2018 was filed with the SEC and is
available on the SEC's website, located at www.sec.gov. Copies
of the preliminary prospectus supplement, final prospectus
supplement and the accompanying prospectus relating to this
offering, when available, may be obtained from Morgan Stanley &
Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014 or
Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue,
New York, New York, 10010, or by
telephone at +1 (800) 221-1037, or by email at
newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
shares of Instructure's common stock in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to Instructure's
expectations regarding whether Instructure will be able to
consummate the offering, the satisfaction of customary closing
conditions with respect to the offering of the shares, and its
anticipated use of net proceeds from the offering. Actual results
or developments may differ materially from those projected or
implied in these forward-looking statements. Factors that may cause
such a difference include risks and uncertainties related to
completion of the public offering on the anticipated terms or at
all, market conditions and the satisfaction of customary closing
conditions related to the public offering. More information about
the risks and uncertainties faced by Instructure is contained in
the section captioned "Risk Factors" in the preliminary prospectus
supplement related to the public offering to be filed with
the SEC and other filings with the SEC from
time to time. Instructure disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACTS:
Keaton
Godfrey
Instructure
(866) 574-3127
kgodfrey@instructure.com
Becky Frost
Instructure
(801) 869-5017
becky@instructure.com
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SOURCE Instructure, Inc.